Financial Daily from THE HINDU group of publications
Tuesday, Feb 18, 2003
Financial Daily from THE HINDU group of publications Tuesday, Feb 18, 2003 |
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Corporate
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Announcements Biocon to invest Rs 75 cr in cancer treatment unit Madhumathi D.S.
BANGALORE, Feb. 17 BIOCON India is moving quickly to get started on its new anti-cancer treatment venture, which will be the country's first such based on monoclonal anti-bodies (MABs). With a technical hitch at the FIPB getting cleared recently, the Bangalore-based domestic biotechnology major will be investing Rs 75 crore in the MAB manufacturing facility at Bangalore, according to Biocon India CMD, Ms Kiran Mazumdar-Shaw. Biocon has tied-up with premier Cuban research body, Centre for Molecular Immunology, in the 51:49 venture for the technology transfer of MABs and mammarian cell culture. "We now plan to go in full stream on the project and expect to complete it in 15 months so as to hit the Indian market in 2005. Land has been bought two km from the present facility at Bommasandra," Ms Mazumdar-Shaw said. Though the Cuban centre has built up enough research data on head and neck cancer and has entered phase 1 trials in Cuba, Biocon, according to Ms Mazumdar-Shaw, will be looking at the deadly epidermal growth factor (EGF) cancer types affecting colon, breast and other organs also. The first three phases of clinical trials will be conducted through its wholly owned subsidiary, Clinigene International, in Bangalore and Mumbai. Clinigene has tie-ups with the Curie Centre, the Kidwai Memorial Institute of Oncology in Bangalore. "We will be applying to the Drugs Controllerate General of India shortly for permission to do the clinical trial," she said. The deadly EGF cancer affect large numbers of population and there are not too many drug products for them, especially in India. Drugs for these types can develop into Rs 50-crore market in five years. The MAB facility is part of Biocon's Rs 250-crore expansion plan, which will be shoring up its facility for cholesterol-lowering stains, its highly successful commercial foray. Ms Mazumdar-Shaw said Biocon, with a significant share of the lovastatin market in the US too, expects revenue of Rs 500 crore from this in five years. Along with immunosuppressants, human insulin will be another big segment for the company, which is looking at new leads in type 2 diabetes. It has tied-up with Shanta Biotechnics in a 50:50 venture to make human insulin.
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