Biocon is world's 7th largest biotech employer: Report

Indian biotechnology major Biocon has been ranked as the seventh largest employer in the world, according to a report released by Med Ad News. There are around 5,000 biotech companies in the world.

The report has taken into consideration drug-based firms, as these companies provide the best numbers to track the sector, Biocon said in a statement to Bombay Stock Exchange.

“It’s a matter of immense pride for Biocon to be ranked amongst the top global league of biotech companies. This is a validation of our consistent effort at attaining global leadership and also highlights the true potential of this sector in a country like India. This industry will be a key driver in India’s progress towards economic development,” Biocon chairman and managing director Kiran Mazumdar-Shaw said.

Biocon had 3,000 employees in 2007, compared with 2,543 people a year ago.

US-based Amgen tops the list, followed by UCB SA. Genzyme Corp, CSL and Biogen Idec are the other top companies in the list.