An industry survey concludes that India's young biotech industry grew at a healthy, 20 percent clip last year. That's fast growth, says the Association of Biotech Led Enterprises, but not as fast as the 30 percent growth rate that the industry had grown accustomed to.
"Though the sector grew at a healthy 20 percent, it was lower than 30 percent growth posted over the previous five consecutive years, largely due to the rupee appreciating by 12 per cent and pricing pressures impacting export earnings," saidN. Suresh of BioSpectrum. "Going by the current trend and the new biotech policy of the central government, the sector is poised to generate $13-$16 billion by 2015. The revenue could go higher if innovative products in the pipeline get regulatory approval on time."
"The biopharma segment, which is coming of age, is poised for a trajectory growth over the next five years. While bioservices will continue to attract significant interest, bio-generic exports to the regulated markets are set for a quantum leap in earnings," says ABLE director-general Shrikumar Suryanarayan.
- read the report in the Economic Times