Long hailed as the country's cardinal one bio-technology hub, Bangalore has been outpaced by Mumbai in agreement of acquirement during the antecedent banking year, according to the eighth anniversary analysis appear by the industry anatomy Association of Biotech Led Enterprises (ABLE) and biotech industry annual BioSpectrum. With Rs 2,400 crore in revenue, Mumbai all-overs advanced of Bangalore by a allowance of Rs 200 crore.
A agent of BioSpectrum said, "One of the affidavit why Bangalore fell abaft Mumbai this year is there is a lot of assignment in Bangalore that is currently underway, and is yet to alpha breeding revenues."
Overall, the western allotment of the country absolute Maharashtra and Gujarat accounted for 46% of the sector's revenue. With 137 companies in the region, it clocked Rs 6,631 crore, accretion its allotment in all-embracing acquirement by 3% over 2008-2009.
South India continues to be the better biotech array with 172 companies. It added 9 such firms, the accomplished accession in the country during the year. However, it acquainted abbreviate in revenues compared to the west, announcement Rs 5,537.88 crore and accounting for 39% of all-embracing revenues.
Kiran Mazumdar-Shaw's Biocon regained its top position on the account of biotech companies in the country replacing Pune-based vaccine maker Serum Institute.
Biocon grew at 29.34% in 2009-10 to address revenues Rs 1180 crore, which put it at the cardinal one atom afterwards a gap of four years. Serum Institute clocked revenues of Rs 850 crore. Serum Institute, which produces one out of every two vaccines in the world, slipped to the additional position attributable to arrangement setbacks. Panacea Biotec, Nuziveedu Seeds and Reliance Life Sciences were ranked third, fourth and fifth, respectively.
With the absolute acquirement bridge the $3 billion dollar mark, the area grew by 17% over the antecedent year as appear in the survey. Bio-pharma contributed three-fifth of the acquirement at Rs 8,829 crore, followed by bio-services at Rs 2,639 crore and bio-agri at Rs 1,936 crore.
"Overall, there is a alert optimism aural the biotech industry and the contempo government efforts to addition the basement and abutment for assorted industry initiatives will accompany alleviation for the industry," observes Narayanan Suresh, accumulation editor of BioSpectrum.