Home \u00bb business \u00bb India's Biocon to set up insulin plant in Malaysia SUPALAK GANJANAKHUNDEE
THE NATION
Bangalore, India <\/p>\n
February 20, 2012 1:00 am <\/p>\n
Speaking to visiting Asean journalists, the Biocon chief said the first phase should cost US$160 million (Bt3.7 billion) and the facility should start producing by 2014. The facility, investment for which is the largest in Malaysia's biotechnology sector, will become a production base not just for Southeast Asia but also for the global market, she said. <\/p>\n
Biocon is currently conducting clinical trials for insulin with a partner in Thailand, where the market for the product is sizeable, she said. Mazumdar-Shaw established the company in 1987 as a pioneer in biotechnology for healthcare. The company now has more than 5,500 workers. <\/p>\n
Biocon's objective is to produce pharmaceutical products at affordable prices, she said, noting that the company had managed to bring down the price of insulin significantly. <\/p>\n
The secret behind such success is India's low-cost engineering capabilities, notably in Bangalore, where many people in the field are based and research can be conducted at a competitive price, she added. <\/p>\n
Unlike many other countries, research in the biotechnology field in India is purely conducted by the private sector with no government subsidies, she said. <\/p>\n
Biocon's biosimilar insulin, an outcome of incremental innovation, is one of the world's most affordable therapies for insulin-dependent diabetics, she said. <\/p>\n
The company also has expertise in other fields such as chronic kidney disease, heart disease and cancer. <\/p>\n
Biocon is developing conjugated antibodies with a US biotech start-up, IATRICa, to potentially deliver therapeutic cancer vaccines. It is also pursuing a path of breakthrough innovation through Phase III human clinical trials to develop the world's first oral insulin, she said. <\/p>\n
US trade publication, Med Ad News, ranked Biocon as the world's 20th best biotechnology company in 2008 and Mazumdar-Shaw herself was named one of Time magazine's 100 most influential people in the world. <\/p>\n
According to its 2011 annual report, Biocon's revenue rose by 17 per cent from 24 million rupees (Bt15 million) in 2010 to 28 million rupees last year. <\/p>\n
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Read this article: Home \u00bb business \u00bb India's Biocon to set up insulin plant in Malaysia SUPALAK GANJANAKHUNDEE THE NATION Bangalore, India February 20, 2012 1:00 am Speaking to visiting Asean journalists, the Biocon chief said the first phase should cost US$160 million (Bt3.7 billion) and the facility should start producing by 2014. The facility, investment for which is the largest in Malaysia's biotechnology sector, will become a production base not just for Southeast Asia but also for the global market, she said. Biocon is currently conducting clinical trials for insulin with a partner in Thailand, where the market for the product is sizeable, she said Continue reading
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