B.V.Shashidhar 1PI10MBA27 Introduction to the company
Biocon India is incorporated as a joint venture between Biocon Biochemical’s Ltd. of Ireland and an Indian entrepreneur, Kiran Mazumdar-Shaw
Biocon is the first Indian company to manufacture and export enzymes to USA and Europe
Unilever plc. Acquires Biocon Biochemical’s Ltd. in Ireland and merges it with its subsidiary, Quest International. Biocon is the first Indian biotech company to receive US funding for proprietary technologies
Biocon scales up its in-house research programme, based on a proprietary solid substrate fermentation technology, from pilot to plant level
Biocon's R&D and manufacturing facilities receive ISO 9001 certification from RWTUV, Germany
Biocon establishes Syngene International Pvt. Ltd. as a Custom research Company (CRC) to address the growing need for outsourced R&D in the pharmaceutical sector
The commercial success of Biocon's proprietary fermentation plant leads to a 3-fold expansion Biocon leverages its technology platform to enter biopharmaceuticals and statins
Unilever inks a deal with ICI to sell its specialty chemicals division of which Quest International is a part. Unilever agrees to sell its shareholding in Biocon to the Indian promoters. 2000
Biocon commissions its first fully automated submerged fermentation plant to produce specialty pharmaceuticals. Biocon establishes Clinigene, India's first Clinical Research Organization (CRO) to pursue clinical research and development
Biocon becomes the first Indian company to be approved by US FDA for the manufacture of lovastatin, a cholesterol-lowering molecule
Biocon is the first company worldwide to develop human insulin on a Pichia expression system
Biocon creates a buzz in the stock market in March 2004 with its hugely successful IPO. Day 1 on the bourses closes with a market value of $1.11 billion, making Biocon only the second Indian company to cross the $1 billion mark on the first day of listing.
Biocon signs a commercial agreement for supply of insulin API to Asia, Africa and the Middle East.
Biocon inaugurates Biocon Biopharmaceuticals, India's largest multi-product Biologics facility at Biocon Park
Biocon and Abu Dhabi based pharmaceutical company Neopharma sign an MOU to establish a JV to manufacture and market a range of biopharmaceuticals for the GCC countries (Gulf Cooperation Council).
Biocon acquires a 78% stake in German pharmaceutical company, AxiCorp GmbH for a consideration of €30 Million
Biocon explores investment in Malaysia in partnership with BiotechCorp .Biocon and Bayer join hands to create awareness for self monitoring for diabetics
Biocon divests its stake in its German subsidiary, AxiCorp GmbH, to the existing group of promoter shareholders.
Present status of Indian pharmaceutical industry
The number of purely Indian pharma companies is fairly low. Indian pharma industry is mainly operated as well as controlled by dominant foreign companies having subsidiaries in India due to availability of cheap labor in India at lowest cost. In 2002, over 20,000 registered drug manufacturers in India sold $9 billion worth of formulations and bulk drugs. 85% of these formulations were sold in India while over 60% of the bulk drugs were exported, mostly to the United States and Russia. Most of the players in the market are small-to-medium enterprises; 250 of the largest companies control 70% of the Indian market. Thanks to the 1970 Patent Act, multinationals represent only 35% of the market, down from 70% thirty years ago. Most pharma companies operating in India, even the multinationals, employ...