Biocon is ranked as the seventh largest employer amongst the top global biotechnology companies, according to a report released by Med Ad News. The report takes into consideration drug based firms, as these companies provide the best numbers to track the progress of the sector. Companies have been ranked by number of employees and Biocon Limited is the only Asian company to feature at number seven.
BIO 2008, held in San Diego recently, stated that the global biotechnology industry will be a $100 billion annual business by 2010. The actual revenue has reached $85 billion in 2007. There are close to 5000 biotech companies across the globe. The top 25 biotech companies represent 62 per cent of all biotech sales and probably over 90 percent of income.
Reacting to the listing, Kiran Mazumdar-Shaw, chairman and managing director, Biocon Limited said, “It is a matter of immense pride for Biocon to be ranked amongst the top global league of Biotech companies. This is a validation of our consistent effort at attaining global leadership and also highlights the true potential of this sector in a country like India. This industry will be a key driver in India’s progress towards economic development.”
According to Med News, the top 10 biotech companies based on the number of employees in 2007 are Amgen Inc with 17,500 employees, UCB SA (12,102), Genetech Inc ( 11,174), Genzyme Corp ( 10,000), CSL Ltd (8,423), Biogen Idec Inc (4,300) Biocon (3,000), Gilead Sciences Inc (2,979), Cephalon Inc (2,796) and Amylin Pharmaceuticals Inc (1,990).