Biocon Limited, India's pioneering biotechnology company, and the Indian School of Business (ISB) have launched the Biocon Cell for Innovation Management (BCIM) to promote innovation in business.
Biocon would contribute an initial investment of Rs one crore to set up BCIM. The company would provide funding over a minimum ten-year period as and when required.
The Cell would be established under the aegis of the Centre for Leadership, Innovation and Change (CLIC) at the ISB. BCIM at the ISB would help organizations find answers to questions such as the gaps in a company’s ability to innovate, assessing the required understanding to manage and mitigate risks associated with innovation and how to produce high value and high quality strategic innovation at low cost.
In a statement here today, Biocon Ltd Chairman and MD and ISB Executive Board Member Kiran Mazumdar Shaw said, ''We have to find new solutions for the unique challenges we face in India and innovation is the key to forge this. At Biocon, innovation has been our driving force right from inception.'' ''I would like the Biocon Cell for innovation to understand the process of innovation and create and develop champions who will make innovation a part of company culture,'' he added.
The partnership between Biocon and ISB further strengthened the trend started by ISB when its founding fathers attracted the support of industry to establish an international quality business school in India.
Showing posts with label Biocon Limited. Show all posts
Showing posts with label Biocon Limited. Show all posts
Monday, June 8, 2009
Monday, May 11, 2009
Kiran Mazumdar Shaw Awarded the Prestigious 'Nikkei Asia Prize' 2009 for Regional Growth
Kiran Mazumdar Shaw, Chairman and Managing Director, Biocon Limited has been honoured with the 'Nikkei Asia Prize' 2009 for Regional Growth. Japan's prestigious business daily Nihon Keizai Shimbun (Nikkei) awards Nikkei Asia Prizes annually to individuals or institutions from Asia Pacific region recognizing outstanding achievements that improve the quality of life in Asia. In addition to Ms. Shaw's Regional Growth category, prizes are given in the categories of Culture and Science, Technology & Innovation.
Lauding her role as the head of India's leading biotechnology enterprise, Biocon, Ms. Shaw was nominated by the prize committee for her pioneering work in the field of biotechnology in India, by establishing a business model that believes in innovation and intellectual excellence, her achievements as a first generation entrepreneur and her status as an icon of entrepreneurship in India. Under her stewardship, Biocon has evolved from its inception in 1978 as an industrial enzymes company to a fully integrated Bio-pharmaceutical enterprise encompassing a well balanced business portfolio of products and services with a research focus on Diabetes, Oncology and Auto-immune disease.
Lauding her role as the head of India's leading biotechnology enterprise, Biocon, Ms. Shaw was nominated by the prize committee for her pioneering work in the field of biotechnology in India, by establishing a business model that believes in innovation and intellectual excellence, her achievements as a first generation entrepreneur and her status as an icon of entrepreneurship in India. Under her stewardship, Biocon has evolved from its inception in 1978 as an industrial enzymes company to a fully integrated Bio-pharmaceutical enterprise encompassing a well balanced business portfolio of products and services with a research focus on Diabetes, Oncology and Auto-immune disease.
Saturday, July 19, 2008
Biocon to market new breast cancer drug in India
Biotechnology major Biocon Ltd will market Abraxane drug of the US-based Abraxis BioScience in India for treating breast cancer, a top company official said here Friday.
To be priced at about $400 (Rs.17,200) per 100mg vial in India, the drug will be cheaper by 60 percent than in the US where it is sold at $1,000 (Rs.43,000) per vial of same measure.
Abraxane will be the second oncotherapeutics drug Biocon will be marketing after the launch of its proprietary antibody Biomab for the treatment of head and neck cancers.
"Abraxane is the first albumin-bound taxane particle of 130 nanometres that takes advantage of albumin, a natural carrier of water-insoluble molecules found in human beings," Biocon chairperson Kiran Mazumdar-Shaw told reporters at a preview of the innovative product.
The scheduled drug is being introduced for the first time in India for treating breast cancer after the failure of combination therapy for metastatic disease or relapse of adjuvant chemotherapy within six months.
As a protein, albumin acts as the body's key transporter of nutrients and other water-soluble molecules and selectively accumulates in tumour tissues.
Abraxane was approved by the US Food and Drug Administration (FDA) in 2005 and the Drug Controller General of India in 2007 on the basis of clinical trial data, which demonstrated that the drug doubled the response rate, prolonging life and improved survival rate of breast cancer patients.
"With about 100,000 cases of breast cancer detected in Indian women every year, the dreaded disease has emerged as the second largest cause of death among women in the country" Shaw said.
"Studies reveal about 45,000 Indian women die of breast cancer every year. With one in 22 cancer cases being identified as breast cancer, the disease is increasing by 8-10 percent every year."
Unlike conventional breast cancer drugs such as Taxol and Taxotere, Abraxane eliminates the need for chemical solvents and allows for higher doses of paclitaxel protein-based particles for injectable suspension without compromising safety and tolerability.
"The launch of Abraxane provides breakthrough therapeutics to cancer patients in India, which is safe, effective and affordable. Besides India, we will be marketing the drug in 10 other countries after securing regulatory approvals," Shaw said.
Pakistan, Bangladesh, Sri Lanka, the United Arab Emirates (UAE), Saudi Arabia, Kuwait and some South Asian countries are the targeted markets.
"Though cancer rates in India are lower than those in western countries, the cases are rising due to early detection and increasing migration of rural population to cities, increasing life expectancy and changing lifestyles.
"The breast is the second most common site in women after the cervix uteri. In metros like Delhi and Mumbai, breast cancer is the most common kind of disease in women," Shaw said.
To be priced at about $400 (Rs.17,200) per 100mg vial in India, the drug will be cheaper by 60 percent than in the US where it is sold at $1,000 (Rs.43,000) per vial of same measure.
Abraxane will be the second oncotherapeutics drug Biocon will be marketing after the launch of its proprietary antibody Biomab for the treatment of head and neck cancers.
"Abraxane is the first albumin-bound taxane particle of 130 nanometres that takes advantage of albumin, a natural carrier of water-insoluble molecules found in human beings," Biocon chairperson Kiran Mazumdar-Shaw told reporters at a preview of the innovative product.
The scheduled drug is being introduced for the first time in India for treating breast cancer after the failure of combination therapy for metastatic disease or relapse of adjuvant chemotherapy within six months.
As a protein, albumin acts as the body's key transporter of nutrients and other water-soluble molecules and selectively accumulates in tumour tissues.
Abraxane was approved by the US Food and Drug Administration (FDA) in 2005 and the Drug Controller General of India in 2007 on the basis of clinical trial data, which demonstrated that the drug doubled the response rate, prolonging life and improved survival rate of breast cancer patients.
"With about 100,000 cases of breast cancer detected in Indian women every year, the dreaded disease has emerged as the second largest cause of death among women in the country" Shaw said.
"Studies reveal about 45,000 Indian women die of breast cancer every year. With one in 22 cancer cases being identified as breast cancer, the disease is increasing by 8-10 percent every year."
Unlike conventional breast cancer drugs such as Taxol and Taxotere, Abraxane eliminates the need for chemical solvents and allows for higher doses of paclitaxel protein-based particles for injectable suspension without compromising safety and tolerability.
"The launch of Abraxane provides breakthrough therapeutics to cancer patients in India, which is safe, effective and affordable. Besides India, we will be marketing the drug in 10 other countries after securing regulatory approvals," Shaw said.
Pakistan, Bangladesh, Sri Lanka, the United Arab Emirates (UAE), Saudi Arabia, Kuwait and some South Asian countries are the targeted markets.
"Though cancer rates in India are lower than those in western countries, the cases are rising due to early detection and increasing migration of rural population to cities, increasing life expectancy and changing lifestyles.
"The breast is the second most common site in women after the cervix uteri. In metros like Delhi and Mumbai, breast cancer is the most common kind of disease in women," Shaw said.
Tuesday, April 22, 2008
Biocon net zooms by 275 percent
Biocon Ltd posted has a net profit of Rs.4.35 billion (approx $108 million) for fiscal 2007-08, registering a whopping 275 percent increase year-on-year (YoY) over the same period last year at Rs.1.58 billion.
In a notification to the stock exchanges Tuesday, the country's standalone biotechnology major said its sales increased marginally to Rs.9.29 billion for fiscal under review (FY 2008), from Rs.8.63 billion in the corresponding period of the previous fiscal (FY 2007), posting eight percent YoY growth.
Indo-Asian News Service
In a notification to the stock exchanges Tuesday, the country's standalone biotechnology major said its sales increased marginally to Rs.9.29 billion for fiscal under review (FY 2008), from Rs.8.63 billion in the corresponding period of the previous fiscal (FY 2007), posting eight percent YoY growth.
Indo-Asian News Service
Biocon Group Delivers Healthy Performance for FY 2007-08
Biocon Limited today announced its financial performance for the financial year ended March 31, 2008.
PERFORMANCE HIGHLIGHTS:
FY 2008 (April '07 - March '08) v/s FY 2006 (April '06 - March '07)
-- Consolidated revenue (excluding enzymes) increases 19% from Rs: 881 to Rs. 1,044 crores.
-- Operating margins at 31% for the year, an improvement of 2% over the previous fiscal.
-- PAT increases by 13% to Rs. 225 crores (excluding, net exceptional income) .
-- Earnings per share at Rs. 22.5 for the year.
-- R&D revenue expenditure increases by 26% to Rs. 48 crores.
-- Board recommends dividend of 60% (Rs. 3/- per share).
-- Board also recommend a Special Dividend of 40% (Rs. 2/- per share) pursuant to the divestment of the Enzymes business.
-- 1:1 Bonus Share issue recommended by the Board.
REVENUE ANALYSIS:
Profit growth has been maintained at the consolidated level despite the divestment of the enzymes business, currency appreciation and increased depreciation. We have a strong Balance Sheet with high reserves and Rs. 193 crores in net cash.
Revenues from Research Services grew 29% to Rs. 176 crores from Rs.136 crores, contributing 16 % to consolidated revenues in FY 2008, but currency appreciation and capacity expansion for future demand kept operating margins flat.
Note: The discussions in this release reflect the audited financial performance of Biocon Limited based on Indian GAAP on a consolidated basis. This considers the financial performance of Biocon Limited, its wholly owned subsidiaries Syngene International Private Limited and Clinigene International Private Limited and its 51% joint venture Biocon Biopharmaceuticals Private Limited.
OUTLOOK:
Commenting on the results, Kiran Mazumdar-Shaw, Chairman and Managing Director, Biocon Limited, said:
"We are pleased with our overall performance and have delivered the highest profits to date. We have increased our capital expenditure to support the business expansion that we anticipate across the Group. We expect the year ahead to realize a good return on these investments especially at Syngene and Clinigene. We have a strong Balance Sheet which we will use for strategic acquisitions and investments.. The recent AxiCorp acquisition is a significant move that provides us key access to the European market. We wish to make similar inroads into other markets to expand our global footprint. We have delivered a 13% increase in PAT despite a Rs: 27 crore increase in depreciation. The strong financial base enables us to recommend a 1:1 Bonus issue that we believe will improve market liquidity to support Biocon's growing profile as a bellwether stock in the Life Science sector."
PERFORMANCE HIGHLIGHTS:
FY 2008 (April '07 - March '08) v/s FY 2006 (April '06 - March '07)
-- Consolidated revenue (excluding enzymes) increases 19% from Rs: 881 to Rs. 1,044 crores.
-- Operating margins at 31% for the year, an improvement of 2% over the previous fiscal.
-- PAT increases by 13% to Rs. 225 crores (excluding, net exceptional income) .
-- Earnings per share at Rs. 22.5 for the year.
-- R&D revenue expenditure increases by 26% to Rs. 48 crores.
-- Board recommends dividend of 60% (Rs. 3/- per share).
-- Board also recommend a Special Dividend of 40% (Rs. 2/- per share) pursuant to the divestment of the Enzymes business.
-- 1:1 Bonus Share issue recommended by the Board.
REVENUE ANALYSIS:
Profit growth has been maintained at the consolidated level despite the divestment of the enzymes business, currency appreciation and increased depreciation. We have a strong Balance Sheet with high reserves and Rs. 193 crores in net cash.
Revenues from Research Services grew 29% to Rs. 176 crores from Rs.136 crores, contributing 16 % to consolidated revenues in FY 2008, but currency appreciation and capacity expansion for future demand kept operating margins flat.
Note: The discussions in this release reflect the audited financial performance of Biocon Limited based on Indian GAAP on a consolidated basis. This considers the financial performance of Biocon Limited, its wholly owned subsidiaries Syngene International Private Limited and Clinigene International Private Limited and its 51% joint venture Biocon Biopharmaceuticals Private Limited.
OUTLOOK:
Commenting on the results, Kiran Mazumdar-Shaw, Chairman and Managing Director, Biocon Limited, said:
"We are pleased with our overall performance and have delivered the highest profits to date. We have increased our capital expenditure to support the business expansion that we anticipate across the Group. We expect the year ahead to realize a good return on these investments especially at Syngene and Clinigene. We have a strong Balance Sheet which we will use for strategic acquisitions and investments.. The recent AxiCorp acquisition is a significant move that provides us key access to the European market. We wish to make similar inroads into other markets to expand our global footprint. We have delivered a 13% increase in PAT despite a Rs: 27 crore increase in depreciation. The strong financial base enables us to recommend a 1:1 Bonus issue that we believe will improve market liquidity to support Biocon's growing profile as a bellwether stock in the Life Science sector."
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