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| Biocon mulls listing of two of its arms by next yr |
| Press Trust of India / Chennai Aug 26, 2009, 16:18 IST |
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Banglore-based biotechnology firm Biocon is planning to list two of its arms Syngene International Limited and Clinigene International Limited by next year according to Kiran Mazumdar Shaw, chairman and managing director, Biocon Limited.
On the earlier postponements of the listing process of Syngene she said that the process to list the subsidiaries now is proceeding and it will be over by next year. The bio pharma major had deferred the plans to list Syngene in 2008. But the decision to list Clinigene also is a new development in the company.
Clinigene is a full-service Clinical Research Organization that services global pharmaceutical and biotechnology companies in their clinical development programs whereas Syngene is a contract research and manufacturing organization that services pharmaceutical and biotechnological firms.
Meanwhile, the biopharma major is planning to increase the head count in its R&D units to 4000 from the existing 3500 this fiscal. The company also outsources 25 per cent of its R&D to academic institutes and smaller hubs, she noted.
Indian pharmaceutical business will develop into non-generic areas only when more intellectual properties are filed and protected by the law in the country, she said. Biocon’s patent portfolio totals close to 942 applications worldwide with over 182 granted patents.
On setting up of multi-manufacturing facilities, she said that the only after the development of its hub in Vishakapatnam, which will be set up by next two years, will the company expand to other cities.
The company has entered into the drug supply pact with US-based company Mylan to improve the marketing prospects of Biocon’s generic drugs in the International market as Mylan has regulatory knowledge, she said.
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