Organization: Biocon Ltd
CMD: Dr Kiran Mazumdar-Shaw
Bioscience Revenue: Rs 3,143 crore
Recording Rs 3,143 crore in sales, Biocon is ramping its biopharmaceuticals business. From $1.3 billion in 2013, the biosimilars market is expected to reach $24 billion in 2019 (Source: Frost & Sullivan Global Biosimilars Report) as a higher number of products penetrate North America, Europe and Asia.
The unfolding biosimilars opportunity in emerging markets and the developed markets subsequently will provide Biocon with the next big bolus of growth. Biocon's innovation-led strategy is aligned with the trends in global healthcare wherein biologics are playing an increasing role in addressing unmet medical needs. This has resulted in increasing demands for affordable biosimilars and other generic protein drugs to mitigate the pressures on healthcare budgets.
Although R&D costs are significant and gestation periods for biologics development are longer than small molecules, Biocon has managed the risks prudently through a judicious mix of partnering and phasing of capital investments. It has also focused on revenue generating opportunities in emerging markets whilst working towards approvals in the developed markets.
Each of the company's biosimilars R&D programs that has advanced into the clinic address potentially large commercial opportunities as reflected by the cumulative current market size of about $60 billion for the reference products. Biocon's Small Molecules portfolio comprises of specialty, largely fermentation-derived or complex generics wherein it believes the competitive intensity may be lower.