Bharat Serums and Vaccines
BSV holds a formidable market share in India for plasma derivatives and is constantly expanding its range of products by introducing new and improved therapies based on strong R&D initiatives and efforts.
In fiscal year 2007-2008, the biotech revenues of Bharat Serums and Vaccines (BSV) clocked Rs 140 crore, registering a growth of 15 percent. The marginal growth is attributed to issues centering around the availability of raw materials for one of their major products. "We would have registered a growth of 25-30 percent had this issue not cropped up," pointed out Dr Bharat Daftary, chairman and managing director, BSV.
The company manufactures and markets biological, pharmaceutical and biotechnology products. Today, BSV holds a formidable market share in India for plasma derivatives and is constantly expanding its range of products by introducing new and improved therapies based on strong R&D initiatives and efforts. BSV has also sharpened its focus on R&D by continuous allocation of resources and manpower. The company is introducing niche life saving injectibles, substantially improving the safety and efficacy of existing therapy.
BSV did not come up with any new launches of products between 2007-2008 as the company was more focused on its R&D operations in India and beyond Indian shores. "We spend close to around 15 percent of our turnover on just R&D," informed Bharat Daftary. BSV has three distinct R&D divisions working extensively on NDDS, biotechnology and equine products. In fact the plan of action for the next five years is to focus only on R&D, which has always been their forte. In 2007-2008, BSV expanded their R&D center in California which they had set up four years back. In 2007, BSV also commenced and initiated an R&D center in Germany which was fully operational in January 2008. At present, there are four German personnel working in that center.
In 2007, BSV completed phase 3 trials for a recombinant product. In fact for the same recombinant product, BSV is coming up with two R&D centers for which it has spent close to Rs 30-32 crore. The company is also coming up with monoclonal tetanus vaccine, which is on clinical trials in India. There are around 7 molecules which are in different stages of research and clinical trials, with 2 products in the biosimilar space, all of which commenced last year "We are in active discussion with some players abroad for outlicensing biotech molecules at an early stage. That means they will potentially fund us," added Daftary.
BSV was not affected much by the pricing policy of the government last year. "There was an issue of a product which we were selling, but that was very miniscule. We had to reduce our prices due to the policy but we have a diversified portfolio and do not depend upon one product which contributed to 15 percent of our turnover. In fact we have 8-10 products which contributes to 60 percent of our turnover," added Daftary. BSV has a target growth of 30 percent for this fiscal 2008-09.