BIOINVEST 2014 - ABLE
In the year 2013 Biotech sector in the US saw a record offering of over 50 IPOs that raised approx. 7.5 billion USD. The numbers were impressive by any standards and should give companies in the sector ample reason to cheer. But the fact remains that most of the action happened in the US, with a few IPOs in Israel.
The Indian Biotechnology industry has been growing at a healthy clip and accelerating towards the anticipated 100 billion USD by 2025. That would of course need a growth rate of 30 -35%, which seems to be difficult task at a time when there are a quite a few fundamental issues, both at the macro and micro level.
Biotech leaders in India will meet during ‘BIOINVEST 2014'in Mumbai on January 24, 2014 to bring together on one platform lifescience companies, institutional investors and investment bankers to explore opportunities for investment in biotechnology sector for the next 5 years. Some visible trends including big data and manufacturing particularly biologics, may offer solutions for the growth of the sector. The conference will also focus on skill development and education as the main pillars for the industry to grow.
The recent announcement of a 1 billion USD investment by a Pharma MNC is definitely encouraging and goes to prove that India remains an attractive investment destination despite challenges. In the past, a significant investment in the drug discovery space by a Japanese major also bodes well for India's capabilities.
As per Dr PM Murali, president, ABLE, "The Indian biotech sector holds the potential to address various challenges including healthcare, agriculture and pharma and BIOINVEST conference aims at finding the right path of growth for the sector by bringing together the industry to debate and discuss on the potential offered by the biotech sector. Also, the new environment minister Mr Veerappa Moily is now considering approval for GM crops. This is a very good sign for attracting investment into the agriculture sector."