Tuesday, May 24, 2022

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    Biocon- How a company with just Rs 10000 seed capital, started a bio revolution in India!

    Biocon Limited, an Indian biopharmaceutical company established in 1978 by Kiran Mazumdar-Shaw, emerged as the first company in India to manufacture and export enzymes to the United States and Europe within just a year of its foundation.

    Currently, it manufactures and promotes 36 products across four therapeutic sectors, which include oncology, nephrology, diabetology, and cardiology.
    The first enzyme manufactured and exported by Biocon was “Papain” which was a plant enzyme derived from Papaya primarily used in the process of brewing.

    The manufacture of enzymes by Biocon led India to depend less on expensive imported enzymes as the former introduced affordable versions of high quality “made in India” enzymes, particularly Insulin. In 2003, Biocon climbed a new step on the Insulin ladder by being the first company in the world to develop Human Insulin from the Fungi, Pichia (A genus of Yeasts). Since then, Biocon has built a global scale for insulins and is today among the top 3 players in the manufacture of Human Insulin.
    Biocon also became the first Indian company to win approval from the US-FDA (United States Food and Drug Administration) for the manufacture of “lovastatin” (a cholesterol-lowering molecule). They started the manufacture of biopharmaceuticals only in 2006 when they launched India’s first cancer drug “BIOMAb, EGFR”. The company continued its anti-cancer manufacturing journey with the simultaneous Canadian patent approval and launch of “Ogivri” for the treatment of breast cancer and metastatic stomach cancer.

    Today, Biocon is the leading company in medical innovation which has evolved through the decades from India’s first company to manufacture and export enzymes, to becoming the first company in the world to have its Biosimilars approved and commercialized in the U.S., EU, Japan, and other developed markets.

    It continues to aim for meeting global medical needs affordably and relentlessly strives to amplify access to healthcare in India.
    This is how with a seed capital of Rs 10,000, the establishment of Biocon, now leading with a turnover of almost Rs 3000 crores, was the dawn of a bio revolution in India.

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