A Project Report on Establishment of Biotechnology Industry In India- (Bts-422)

Abstract

India's first biotechnology company, Biocon, has developed into a fully integrated biotechnology company with an impressive portfolio of small molecule generic drugs as well as new research initiatives. From 2007. Biocon has started paying attention to the new market for biologics and biosimilars. The current global biosimilar market is worth US$3.3 billion with an expected growth rate of25 per cent. Over a decade of research, strategic collaborations and acquisition of strategic assets have enabled Biocon to become the leading biosimilar manufacturer in lndia. However. the biosimilar market remains a difficult market globally. The complex manufacturing process ofbiosimilars makes it harder to manufacture quality biosimilars. The regulatory environments in different countries arc a major challenge. Also, various other large global pharmaceutical companies are actively seeking access to this market, thereby increasing competition for aU. Biocon has to face aU these issues as it goes ahead with an outward-looking plan of expanding its biosimilar and biologics portfolio