Biocon, Shantha Biotechinics in JV, to invest Rs 25 cr in R&D

BANGALORE: Biocon India Group and the Hyderabad-based Shantha Biotechinics have

announced the formation of a joint venture, Biocon-Shantha Biotech Ltd. to

manufacture and market recombinant human Insulin. The joint venture aims to

maximize the R&D, manufacturing and regulatory capabilities of the two

companies with a view to bring recombinant human Insulin into the country.






According to Biocon, Human Insulin is rapidly replacing animal insulin (Bovine
& Porcine) and already commands a market size of over $ 1 billion per annum.

Currently, the human insulin has a 50 per cent share of the total Rs. 150 crore

Insulin market in India and the products are largely imported. "The Joint

venture hopes to shift a greater part of the Insulin market to the recombinant

human insulin segment as well as to expand the total insulin market in the

country," says Kiran Mazumdar Shaw, chairman and managing director, Biocon

India.






Biocon-Shantha Biotech also plans to invest Rs. 25 Crore into their R&D
facilities in Bangalore and Hyderabad. The company also plans to introduce a new

human insulin with PICHIA yeast, which will make it the first of its kind in the

country. Commenting further on the company's turnover Kiran said that Biocon

slated a total revenue of Rs. 200 Crore last fiscal, whereas Shantha Biotech

registers Rs. 36 Crore.