IANS
Bangalore, Jun 18: India's financial capital Mumbai has beaten Bangalore to second place in Biotech revenue generation also, though the IT hub-based Biocon earned highest revenue of Rs.1,180 crore (Rs.11.8 billion) among the biotech companies in 2009-10, says an industry survey.
Mumbai biotech companies generated a revenue of Rs.2,400 crore (Rs.24 billion), Rs.200 crore (Rs.2 billion) more than Bangalore-based firms, the survey conducted by the Association of Biotechnology Led Enterprises (ABLE) and monthly journal BioSpectrum said.
With Rs.11.8 billion revenue in the last financial year, Biocon, known for insulin and cancer drugs, regained the first place in Biospectrum-ABLE list of Top 20 Biotech Companies after a gap of four years, it said.
The Biopharma sector contributed nearly three-fifths to Biotech industry's revenues at Rs.8,829 crore (Rs.88.29 billion) with a growth of 12 percent, followed by Bioservices at Rs.2,639 crore (Rs.26.39 billion) and Bioagri at Rs.1,936 crore (Rs.19.36 billion), the survey said.
The remaining revenue came from the Bioindustrials segment with a contribution of Rs.564 crore (Rs.5.64 billion) and Bioinformatics at Rs. 231 crore (Rs.2.31 billion).
Biocon was followed by last-year's table-topper Pune-based Serum Institute of India, that makes one out of every two vaccines produced in the world, by earning a revenue of Rs.850 crore (Rs.8.5 billion), the survey said.
Region-wise western India continued to dominate the biotech sector with 46 percent share in the overall revenues of Rs.14,199 crore (Rs.141.99 billion). The 137 companies in the region clocked Rs.6,631 crore (Rs.66.31 billion) in 2009-10, increasing the region's share in the overall revenues by three percent over 2008-09, the survey showed.
However southern India remained India's largest Biotech cluster in terms of the number of companies with 172 biotech companies. They generated revenue of over Rs.5,537 crore (Rs.55.37 billion), making up 39 percent of the overall revenues.
The survey is not optimistic about the industry going back to the days of heady growth of 30 percent or more as most industry leaders agree that the sector is maturing and annual growth will be around 20 percent in the near future.