Licensing model pays off for Biocon

INDIA INC ON BUYING SPREE

Bangalore-based biotech major Biocon's licensing model seems to be paying off. The company has earned Rs 16 crore in revenue in the first quarter of this financial year through technology and licensing fees compared with Rs 2 crore in the previous year.

At present, the company has about 12 molecules that have the potential to be out-licensed and fetch the company substantial revenues over the next two years."We see licensing as a strong affirmation of our innovation-led business strategy and expect to realise even greater licensing revenues in the future," Biocon CMD Kiran Mazumdar-Shaw said.