India-EU: Creating Complementing ValueInitiating a Green Biotechnology Revolution
Table of Contents
1 Landscape and Rationale
2 Success Stories
3 Global Biotech Market Scenario
4 India Opportunity: Green Biotechnology
5 Industry and Govt. Structure
6 G t I ti6 Govt. Incentives
7 Recent Initiatives and Future Trends
Scope and Assumptions
1 Landscape and Rationale
Scope:This is a concept document detailing the market potential and opportunity of the Indian BiotechnologyIndustry. It provides insights of macro perspectives in India with specific focus on Green Biotechnology.y p g p p p gyThe presentation provides an in-depth view of the total market size, market shares, trends & drivers,future potential, regulatory insights, and entry barriers for the Bio-Agriculture / Green Biotech Industry inIndia.
Purpose:Purpose:The presentation exhibits the market challenges and opportunities within the Green-BiotechnologyIndustry in India so as to create clarity of business focus for EU Biotech Companies.
Primaries:In-depth interactions were conducted with 3 Senior Principal Scientists at Indian Agricultural ResearchInstitute, New Delhi; detailing on the macro and micro aspects within the Green Biotechnology space inIndia. The insights were used to validate the findings from secondary sources.
Assumptions:Assumptions: Bio-fuels market is assumed to follow the same industry growth curve as bio-diesel Market Size of Bio-fertilizers in 2009, was estimated by benchmarking the CAGR of 2004-2007 period
2
Biotech Industry Landscape in India
1 Landscape and Rationale
BiotechnologyBiotechnology
BiopharmaceuticalsBiopharmaceuticals BioServicesBioServices Bio Agriculture /Green Biotech
Bio Agriculture /Green Biotech BioIndustrialBioIndustrial Bio InformaticsBio Informatics
VaccinesVaccinesHybrid
seeds & Transgenic
crops
Hybrid seeds &
Transgenic crops
Clinical TrialClinical Trial Enzyme Manufacturing
& Marketing
Enzyme Manufacturing
& Marketing
Software & Tools
Software & Tools
DiagnosticsDiagnostics Biopesticides &
Biofertilizers
Biopesticides &
Biofertilizers
Contract ResearchContract Research
TherapeuticsTherapeutics BiofuelsBiofuels
3
Acronyms
1 Landscape and Rationale
JV Joint VentureIPO Initial Public OfferingCAGR Compounded Average Growth Rate
fPhD Doctor of PhilosophyDBT Department of BiotechnologyCST Central Sales TaxST Sales TaxA.P Andhra PradeshBt B ill Th i i iBt Bacillus ThuringiensisMt Metric TonsHa HectareGoI Govt. of IndiaTDB Technology Development BoardK 000’sK 000 sM MillionB BillionICMR Indian Council for Medical ResearchICAR Indian Council for Agricultural ResearchCSIR Council for Scientific and Industrial ResearchCSIR Council for Scientific and Industrial ResearchAPIIC Andhra Pradesh Industrial Infrastructure Corporation LtdSIBRI Small Business Innovation Research InitiativeGM Genetically Modified$ US Dollar
4
Table of Contents
1 Landscape and Rationale
2 Success Stories
3 Global Biotech Market Scenario
4 India Opportunity: Green Biotechnology
5 Industry and Govt. Structure
6 G t I ti6 Govt. Incentives
7 Recent Initiatives and Future Trends
Success Stories indicate huge opportunities to explore complementing value by collaborating with Indian biotech companies
2 Success Stories
Acquired 17% of Canada's Biosyntech Performing Phase I clinical trials for their new oncology molecule at Biosyntech;
Expected to announce Phase II clinical trials soon
Nicholas Piramal India Ltd. Mumbai
In collaboration with University of Ottawa, researchers working to reduce the process of Clinical indications for corneal transplantation to a single surgery
Soon to be launched in India in collaboration with Operation Eyesight Universal, Canada
LV Prasad Eye Institute, Hyderabad
Marketing and licensing agreement with Dragon Pharmaceuticals Inc Canada for distribution of Erythropoietin (EPO) in India
Partnered with United Pharma - Mohali for formulating various herb-based natural h ti l th t h ti i it t ti i fl t ti id t ti
Emcure Pharmaceuticals
Fytokem of Saskatoon, C d pharmaceuticals that have anti-irritant, anti-inflammatory, anti-oxidant properties
Partnered with Beckons India, Mohali for Essential Fatty Acids (EFAs) from fatty acid rich crops
Canada
Bioriginal Food & Science Corp., Saskatoon
100% subsidiary in the form of a formulation plant and clinical research facility Agreement with Biocon, for development of enzymes, other biotech products
100% subsidiary in Ottawa engaged in biotech related R&D
Apotex Pharma, Canada
Gangagen LifesciencesBangalore
References: ATS6
Bangalore
Table of Contents
1 Landscape and Rationale
2 Success Stories
3 Global Biotech Market Scenario
4 India Opportunity: Green Biotechnology
5 Industry and Govt. Structure
6 G t I ti6 Govt. Incentives
7 Recent Initiatives and Future Trends
Global Biotech Companies ‘looking East’ to exploring synergies to address emerging macro-economic challenges
3 Global Biotech Market Scenario
Amgen 48 21%
Other, 43, 19%
Market share of top 10 global Biotech co’s, in $B
227
Global Biotech Market, in $B
Amgen, 48, 21%
/M k
Schering‐plough, 7, 3%
Wyeth, 7, 3%
US$ 227B
145
Roche/ Genentech 48, 21%
J&J 18 8%Novo Lilly, 11, 5%
Sanofi, 9, 4%
Abbott, 9, 4%
Merck KGaA, 9, 4%
2004‐05 2008‐09
In 2008-09, the Global Biotechnology market was estd at ~$227B and expected to be ~$306B by 2013; growing at a CAGR of 11.8%
Global Biotech Industry profits estd at ~$4B; ~3 fold increase from 2008Reduction in R&D costs by 21% over 2008
J&J, 18, 8%Nordisk, 18, 8%
Reduction in R&D costs by 21% over 2008 Liquidity crisis, a major challenge for sector; 13% of global biotech firms shrunk in 2009; 57% of global
biotech firm still facing cash flow problems Consolidation via M&A reducing industry growth rateGenentech’s acquisition by Roche reduced industry revenues by 8% in the last 2 yearsq y y y y
References: Fierce Biotech, E&Y8
Asia dominates the Biotech market with India ranked 4th in Asia, 11th
globally
Global Biotech Market Scenario3
.
Europe 30%
Biotech Market share continent wise
Bioagri, Bio i d t i l
Market share of Segments in Global Biotech industry, in $B
Asia, 34.73%
Bio-Services 15%
industrial, Bio informatics
16%
$ 227B
North America 24.30%Rest of world
9.80%
India, 1.17% Bio Medical 69%
,15% $ 227B
Asia leads the global Biotech market with ~35% revenue share, followed by Europe with 30% share; while India contributes ~1.2%
In 2010, global market for stem cell therapy expected to be ~$20B, India accounts for ~$540M; growing t CAGR f 15%at a CAGR of 15%
In 2007-08, industry reached break even as Asia-Pac revenues grew by ~21% and net loss declined by 98%Associated reasons include increase in IPOs with flows of over $750M
9 References: OECD, Altassets
Table of Contents
1 Landscape and Rationale
2 Success Stories
3 Global Biotech Market Scenario
4 India Opportunity: Green Biotechnology
5 Industry and Govt. Structure
6 G t I ti6 Govt. Incentives
7 Recent Initiatives and Future Trends
~40% Market Share in India owned by top 10 players; Significant growth rate over 30% expected in the fragmented biotech market
4 India Opportunity: Green Biotechnology
SercumNovozymes
Shantha Biotech, 54, 5%
Jubilant, 53, 5%
Market share of top 10 Indian Biotech co’s
2590
Indian Biotech Market, in $M
Sercum IBiotechte of India, 245,
24%
Novo Nordisk
Siro Clinpharm,62, 6%
Novozymes South Asia,
55, 5%
US$ 1B
Biocon, 201, 19%
Panacea Rasi Seeds
Nuziveedu Seeds, 80, 8%
Novo Nordisk, 73, 7%
US$
500
2002 2008
In 2008, Indian Biotechnology market was estd at ~$2.6B and is expected to be ~$25B by 2015; growing at a CAGR of 31.5%Acc to Kiran Mazumdar Shaw, CEO of Biocon , domestic biotechnology sector to reach $10B by 2015
With 325 Bi t h ’ i I di h f t 10 Bi t h i td t 40%
Biotech, 131, 13%
Rasi Seeds,83, 8%
2002 2008
With ~325 Biotech co’s in India, share of top 10 Biotech companies estd. at ~40% Exports account for 60% of total revenue, grew by 25%; accounting for revenues of $1.6B in 2008In 2008 the domestic revenue grew by 10%, accounting for revenues of $1B
Industry-sponsored Phase II, Phase III clinical trial study sites in India grew by 116% over the last 15 months with investments in the sector exceeding $1 2Bmonths with investments in the sector exceeding $1.2B
References: EXIM, Biotech_171109_ibef11
India offers low cost advantage backed by a stable Government,favorable demographics, knowledge and economical manpower
India Opportunity: Green Biotechnology4
Cost benefitsLucrative Government PoliciesSkilled ManpowerDemographic Boon
R&D cost in BioagriFunds for DBT increased 3 5 times toIndia’s scientificLargest agriculture R&D cost in Bioagri segment is cheaper by 30% to 50% as compared to developed countries Labor availability at a
Funds for DBT increased 3.5 times to ~$1.4B in 11th 5-year planIncome Tax benefit with deduction of
150% on R&D expenditure and international patenting costs, till 2012Exemption on import duties on
India s scientific knowledge pool stands at 3M graduates with ~22K medicine graduates, 700K post-graduates,5K PhD’s
Largest agriculture sector in world with ~60% agricultural land, varied climatic zones that can help in R&D of different
lower wage rate i.e. ~25% of western countries
Clinical trials cost 50% lower in phase I, 60% lower in phase II
p pspecified items for R&D and clinical trial equipmentExemption on Excise duty and Sales
tax for bio-dieselSBIRI provides grants up to $100K to
Total supply of professionals for Bio-tech industry estd to be ~74K in 2009 growing at a CAGR of 44%In 2009 demand for
agri-biotech products2nd largest
population in the world growing at a rate of 1.4%( avg. global rate being lower in phase II
compared to global marketsTrials take significantly
less time because of availability of patients
SBIRI provides grants up to $100K to a start up in 1st phase and soft loan at 1-2 % interest ratesSEZ benefits include: Duty free import procurement of
goods
In 2009, demand for skilled professionals in:Biotech industry estd.
to be ~72K growing at a CAGR of 29%Agri bio segment estd
global rate being 1.1%)In 2007, total arable
land estimated to be ~159 M hectareArable land availability of patients
with specific diseasesClinical trials projected to
touch $23B by 2011; India’s share to be 15%
goods100% tax exemption on export
income for SEZExemption from CST and STSingle window clearance for Central
and State level approvals
Agri-bio segment estd. to be ~5.5K growing at a CAGR of ~39%
reducing @ 0.3% ( global arable land increasing at 0.4%)
and State level approvals
References: Agriculture coop, Amazon, CIA12
With an investment of over $1.2B, India on the radar of Global biotech companies ; Tie-Ups with Indian companies critical for growth
4 India Opportunity: Green Biotechnology
US-based biotech companies, Imac andI d E i h l d
Investments
Avesthagen, a Bangalore-based life sciences firm,h d JV ith Li i F h
Collaborations
Indus Expression have plannedinvestment of $104M to set up their unitsin India at the SEZ proposed by APIICPanacea Biotec Ltd has bagged a 3 year
contract worth over $119M from UNICEFto provide agency with EasyFive
has announced a JV with Limagrain, a Frenchinternational cooperative group; Limagrain will holdthe majority 51% stake in the JVBayer CropScience AG, a subsidiary of Germany-
based global crop sciences major Bayer AG and GVKBiosciences Private Limited (GVK Bio) of Hyderabadto provide agency with EasyFive
vaccine, a protection against pediatricdiseasesFrance's largest drugmaker, Sanofi-
Avenits, bought Shantha Biotechnics for~$774M
Biosciences Private Limited (GVK Bio) of Hyderabad,have entered into a research cooperation agreementin the area of early discovery chemistryGVK Biosciences has partnered with the US-based
clinical organisation, ResearchPoint Global. Together,the two companies which are full service contract
Indian Biotechnology
sectorVibha Seeds Group, specializing in
private crop genetics and plant breedingresearches, has invested ~$43M to setup a multi-crop seed processing facility inA.P
presearch organizations (CROs), will offer access tomedical writing, clinical data management andbiostatistics, as well as quicker patient recruitmentBiocon Limited, the country's second largest
biotechnology firm, has signed a MoU with Malaysia'sBi t h l C ti (Bi t hC ) t lAlexandria Real Estate, a ~$5B US-
based company that provides solutions tothe life sciences industry, investing~$107M to set up a biotech R&D andincubation facility in Gujarat
Biotechnology Corporation (BiotechCorp) to explorecollaboration and potential investment in Malaysia'sbiotechnology industryDriver of
knowledge-based sector
References: IBEF13
Green Biotechnology led by Bt Cotton is the fastest emerging sector in the Indian Biotechnology industry
4 India Opportunity: Green Biotechnology
Bio‐industrial,% Bioinformatics,
Market share of Segments in Indian Biotech industry, in $B
330
Indian BioAgri market, in $M
Bio‐services,
Bio‐agri, 0.3, 12%
0.11, 4% Bioinformatics, 0.05, 2%
330
Bio‐pharma,1.7, 65%
Bio services,0.5, 17% US$ 2.6B
23
2002 2008
Indian Bioagri market estd. at ~$330M in 2008, exhibiting maximum growth among all Biotech segments with a CAGR of ~55%
~60% of Bioagri revenue owned by top 3 players
2008
g y p p y~96% of total revenues from Indian domestic market
~ 8% of bioagri market owned by Bio-pesticides and Bio-fertilizersBt cotton driving bioagri growth with ~81% of total cotton area in IndiaHas enabled an increase in farmers’ income by $2B in 2007 alone
References: ET, Bt cotton, Biotech_171109_ibef14
High Potential Indian Bio-fuel industry at Incubation stage; Government initiatives & increased consumption driving future growth
4 India Opportunity: Green Biotechnology
745
Expected growth rate of Indian Bio-fuel and Bio-Energy Market, in $M R&D Pilot Incubation Growth Stabilization Consolidat
ionMaturity
Bio-Fuel Industry growth curve
396
EUustry grow
th curve
20092014
India
EU
Biofue
l ind
Production Capacity
I di Bi f l d Bi E k t td t b 400M i 2009 d 745M i 2014 ti l Indian Bio-fuel and Bio-Energy market estd. to be ~400M in 2009 and ~745M in 2014 respectively; growing at a CAGR of ~13.5%
India and China expected to increase energy consumption for transportation by ~55% by 20305 fold increase in total vehicles in India from ~21M in 1991 to ~110M in 2008 driving fuel consumptionPetrol estd to grow from ~10Mt in 2006 to ~16Mt in 2016Petrol estd. to grow from 10Mt in 2006 to 16Mt in 2016Diesel estd. to grow from ~52Mt in 2006 to ~84Mt in 2016
Surge in green-fuel demand bolstered by government initiatives National biofuel policy of India to realize 20% blending of petrol and diesel with green-fuels by 2017 Ethanol and Biodiesel blending requirements estd to be ~3 3Mt and ~17Mt by 2016 respectivelyEthanol and Biodiesel blending requirements estd. to be 3.3Mt and 17Mt by 2016 respectively
References: BS, SBI, UNCTAD, PC, USDA, USAID15
Demand-Supply gap of food crops widening; Bio-fertilizers and Bio-pesticides to yield future profitability
4 India Opportunity: Green Biotechnology
20.1
Indian Bio fertilizer and Bio pesticides market, in $M Food demand‐supply scenario of Indian Market (Mn Metric Tn)
612.2663.21Demand
17.8 407.8
544.6
436.8495.7 501.1
Demand
Supply
2004‐05 2008‐09
260.8
2000 2011 2021 2026
Population in India growing at a CAGR of ~1.4%, arable land reducing at 0.3%~22% Demand shortfall of food items by 2026 representing immense opportunity
India ranked 10th globally and 4th in Asia for plant diversityTremendous scope for natural biological control organisms as well as natural plant based pesticides
Organic cultivation(crops) in India is estd. at ~100K hectare; Current supply stands at ~3160 Mt while estd. demand is ~1MtBio-fertilizer increases yield by 8-24% to make agriculture a viable proposition
Indian bio-fertilizer and bio-pesticides industry estd at ~$20M in 2008-2009 ; growing at a CAGR of ~3%; and expected to grow at a CAGR of 10%-15% till 2012p g
16 References: Icrier, nistads, ibef, ibef
Untapped market and Government incentives create tremendous opportunities for Bio-Crop Revolution
4 India Opportunity: Green Biotechnology
Bt
Bt crop as a percent of total crop productionPer hectare revenue of bio crop , in $462
Cotton, 3%
400
Total Crop, 97%
Indian Bio-Crop Industry estd at ~$462 per hectare in 2008-2009; growing at a CAGR of ~8% India is the 4th largest adopter of Biotech crop in the world, outpacing Canada
2006‐07 2008‐09
Bt crop accounts for ~3% of total crop harvesting area~97% of untapped market representing huge opportunityBt crops improves yield by 31%
Target for Bt crop seed replacement rate set from 20% to 35% in the ongoing 11th five year plan
17 References :Apcoab, Fai Delhi, foei
Bt-Cotton leading the use of Genetically Modified Seeds; a profitable alternative to increase yield
4 India Opportunity: Green Biotechnology
India China South Africa Argentina
Lint yield Kg/ ha % 699
80%52319%
23765%
53133%
Pest control 30 230 26 18$/ ha % -30-
-230-67%
-26-58%
-1847%
Seed costs $/ ha % - 32 14 87$/ ha % 166% 95% 89% 530%
Total costs $/ ha % -
23%-208-16%
23%
9935%
Profit $/ ha % 311
93%470
340%65
299%23
31%
References: FAO; AP; AGRIBIO18
Table of Contents
1 Landscape and Rationale
2 Success Stories
3 Global Biotech Market Scenario
4 India Opportunity: Green Biotechnology
5 Industry and Govt. Structure
6 G t I ti6 Govt. Incentives
7 Recent Initiatives and Future Trends
Key Stakeholders in the Biotech industry; Alignment of all stakeholders essential for success
Industry and Govt Structure5
Government Funding
Most funding for advanced researchg TDB gives equity and soft loans for technology
development solely for commercial use
Bio Suppliers
Includes co’s from America, EU, and India.
Buyers
Government, private hospitals, patient
Bio Technology Players
Govt. Research Labs and Academia
Supply products such as test-tubes, other consumables to high-end equipment
hospitals, patient Industries-
Pharmaceutical co’s, research institutes
Pure play Biotech Co’s Biotech inclined industries Allied Industry
Venture Capitalists
Risk averse to invest in biotechnology projects in their gestation period
20
Government is a convenient interface to address the operational challenges of entering a new market within Biotechnology
Industry and Govt Structure5
Genetic Engineering Approval Committee (GEAC)Give approval in cases of large-scale field trials deregulation
and commercialization in addition to DBT approval process RCGM
BiotechnologyBiotechnology RCGMReview on-going researches involving hazardous microbesVisit experimental site; ensure that trials done on guidelinesAdvising custom authority on import of microbes, G.M product
Recombinant DNA Advisory Committee (RDAC)Review developments in Biotechnology nationally, globallyRecommend appropriate safety regulations for India in rDNA
research works Institutional Bio-Safety Committee (IBSC)Nodal point of interaction within a commercial organization
MoEFMoEF DBTDBT
p gInvolved implementation of rDNA guidelines
Department of Biotechnology (headed by Ministry of Science)Policy promotion regarding R&D International Co-operation and manufacturing activitiesEstablishment of infrastructure facilities to support R&D
RCGMRCGMGEACGEAC
Establishment of infrastructure facilities to support R&D,productionDevelop integrated programs for HR development
Ministry of Environment and Forest (MoEF)Ensure the compliance of requisite safeguard at R&D level
RDACRDACSBCCSBCC
21 References: dubeypartner
Indian Biotech space offers multiple and smooth modes of access for market entry
Industry and Govt Structure5
Requirements Liaison Office Project/Branch office Subsidiary /Joint Venture
Preliminary Prior approval from RBI Prior approval of RBI for Some sectors not falling in the ambit of automatic route needy
Requirement Prior approval from RBI branches (other than SEZ) ambit of automatic route need approval from FIPB
Permitted activities
Liaison / Representation/communication. No comm
business activities
Activities listed by RBIManufacturing (except in SEZ unit) not permitted
Any activity specified in MOA of companybusiness activities SEZ unit) not permitted
Limitation of liability Unlimited liability Unlimited liability Liability limited to the extent
of Equity participation
Compliance req irement Registration and Registration and periodical Compliance needed with
s bstantial higher stat torrequirement under
Companies Act
gperiodical filing of
accounts
g pfiling of accounts substantial higher statutory
compliance and filing requirement
Compliance Required to file an annual Require to file an annualRequired to file periodic and
annual filings relating torequirementunder FEMA
Required to file an annual compliance certificate
Require to file an annual compliance certificate
annual filings relating to receipt of capital and issue of
shares to foreign investor
IT Act No Tax (cannot carry commercial activity)
File return and pay tax on income earned in India
Tax on global income on net basis DDT @16 995%commercial activity) income earned in India basis DDT @16.995%
22Reference: Publication division
Table of Contents
1 Landscape and Rationale
2 Success Stories
3 Global Biotech Market Scenario
4 India Opportunity: Green Biotechnology
5 Industry and Govt. Structure
6 G t I ti6 Govt. Incentives
7 Recent Initiatives and Future Trends
Four-fold budget allocation for biotech companies; a boon for funding growth opportunities
Govt Incentives6
Investment by DBT increased from $310M to ~$1.4B in 11th 5 year plan
I T b fit
Govt. Investment in Biotech Sector in 5 Year Plans , in $M
Income Tax benefits:150% deduction on R&D expenditure and international patenting costs until 2012Tax benefits to Venture Capitalists
investing in biotech industry
1392
g y Exemption on import duties on specified
items for R&D and clinical trial equipment Exemption on Excise duty and Sales tax Service tax exemption on clinical trials of
new drugs including vaccines and herbal310
new drugs including vaccines and herbal remedies
SBIRI provide a grant up to a maximum of $100K to a start up in first phase Access to soft loans at 1-2% interest rates
133
10th 5-year plan9th 5-year
plan
11th 5-year planplan
24 Reference: osec
Lucrative State Government Incentives; synergistic value proposition for a thriving business environment
Govt Incentives6
Andhra Pradesh Over $ 2.69Bto be invested ; Land allotment to 19 companies in the Biotech Park
State Level Benefits
Over $ 2.69Bto be invested ; Land allotment to 19 companies in the Biotech Park Single Window clearanceTamil Nadu Nurturing the setting up of the biotech enterprise zones along the lines of Silicon Valley to exploit the bio resources 4 state-of-the art biotech parks, a bioinformatics and genome center to be establishedMaharashtra Government putting Equity stake in biotech parks, R&D centers, and pilot plant facilities for promoting contract researchKarnataka Creation of biotechnology fund to incentivize inflows from the biotech companies Proposing to launch India’s first state sponsored biotechnology venture capitalHimachal Pradesh Provide research based support to the Pvt Companies; providing access to a bio resource data base Provide research based support to the Pvt. Companies; providing access to a bio-resource data base 100% tax holidays for all biotech products up to year 2012
Duty free import for procurement of goods
SEZ Benefits
100% tax exemption on export income for SEZ Exemption from CST and ST Exemption from MAT Single window clearance for Central and State level approvals 5 year window period to meet export obligation norms
25 Reference: enews
Table of Contents
1 Landscape and Rationale
2 Success Stories
3 Global Biotech Market Scenario
4 India Opportunity: Green Biotechnology
5 Industry and Govt. Structure
6 G t I ti6 Govt. Incentives
7 Recent Initiatives and Future Trends
Innovation, Knowledge Transfer and Infrastructural growth – India well positioned to lead into a successful future within Biotechnology
Industry and Govt Structure7
Government of India and UNESCO, to establish a Regional Centre for research, training and education in biotechnology in Faridabad Haryana by 2010
Recent Govt. initiatives
biotechnology in Faridabad, Haryana by 2010Addresses the need for interdisciplinary human resource training
DBT to set up a unique Health Biotech Science Cluster (HBSC) at FaridabadCreating infrastructure to scale-up human resources to support a shift to high-end research in long termE l i t f d h f i t it f bi i il d tExploring avenues to fund research, focusing on opportunity for bio-similar products
The Centre is looking at initiating a Bill to empower scientists and help them commercialize their innovationsAlliances with universities for achieving sustained growth
Govt. to stimulate public / private investments by setting up a National Biotechnology Regulatory Authority
The India advantage
Looking ahead
Globally recognized as a manufacturer of economical, high quality bulk drugs and formulationsHuge base of talented, skilled and cost-competitive manpowerWell-developed scientific infrastructure
27 References: IBEF
Thank You