Biocon has set aside Rs 200-300 crore for expansion to be implemented during fiscal 2010-11. The funds will be use to cover Greenfield projects, acquisitions and product launches. The company has invested Rs 70 crore for its new R&D Centre at Biocon Park located at Bommasandra Industrial Area. The R&D centre is likely to be operational by Q1 of 2010.
The company is adding another 800-1000 persons taking its total head count from the present 4,500 to 5,500 employees in the current year, said Kiran Mazumdar-Shaw, chairman and managing director, Biocon.
We are looking at novel drugs from nephrology to oncology. Our research spend in 2009-10 has been Rs 125 crore which is an increase of Rs 45 crore compared to previous year's Rs 80 crore. Our R&D programmes and production plants have helped us to get into rapid discovery, development and commercialization phases. Further, the expertise and product portfolio have enabled us to offer differentiated partnering opportunities with leading global pharma-biotech companies to come out with a range of novel therapeutics, she added.
"We have also made significant progress in partnership with Mylan for developing biosimilars. Our novel pipeline has achieved significant milestones led by key IND filing with US FDA for Oral Insulin IN105," said Shaw.
The company is now gearing up to introduce novel bio-therapeutics for psoriasis and rheumatoid arthritis which is to be launched in Q1 2010. To market the same, Biocon will set up two more divisions: Comprehensive Healthcare which will focus on critical care drugs and Immunotherapy for derma and rheumatoid arthritis, said Rakesh Bamzai, president, marketing Biocon.
For Biocon 10 per cent of its market share in India is from branded formulations which has registered 35 per cent growth. While exports constitute 90 per cent of the earnings, 40 per cent is from the emerging markets alone. Revenues from Statins was 26 per cent, Insulin and immunotherapy was 20 per cent in Q4 2010.
The company also announced its clinical trial efforts. It will initiate a clinical study for Type I diabetes under the US IND later this year. Its anti CD-6 target monoclonal antibody is also entering in phase-III study for psoriasis. The CD20 molecule has completed pre-clinical studies and is expected to move into the clinic in India this year. Our novel programmes are expected to unlock substantial value for licensing income.
In order to strengthen its clinical capability, Biocon has appointed Abhijit S Barve, as chief operating officer, Clinigene International.
On the acquisition front, the company is on the look out for buyouts. Interest has been evinced for finished products and branded c=formulation units, she said.