Biocon to soon expand its presence in biosimilars in US market

FICCI Ladies Organization (FLO) recently organised an interactive session on ‘An Empowering story, entrepreneurial journey of Dr Kiran Mazumdar Shaw’ in New Delhi.

During her speech during the session, Dr Mazumdar Shaw, CMD, Biocon said, "Biocon, the only Indian drug maker to win approval to sell copies of a biologic drug in the US, expects its business in that nascent sector will generate $1 billion in revenue by 2025 as it clears further regulatory hurdles this year. The company has made large strides in the field of biosimilars and is increasingly looking towards consolidating its position as one of the market leaders in the world."

Dr Mazumdar Shaw said, "Today, Biocon is India’s largest, fully-integrated, innovation-led biopharmaceutical company. Our commercial footprint covers 120 countries. We invest up to 15 per cent of our biopharmaceuticals business revenue in R&D. In terms of market share, our capacity to manufacture high-quality, affordable biologics puts us among the top three global biosimilar players for insulin."

"Underling the importance of women’s participation in an economy the women must be encouraged to don the entrepreneurial hat if one wants to accelerate the economic growth of a country. Women have a very important role to play in India’s growing economy. Entrepreneurs, of course, have a very sizeable role to play in India’s new economy and in that, women must have an equitable share and it is only then we can say that India as economy will truly be world class," Dr Shaw said.

She pointed out that entrepreneurship is an important economic activity for a country like India as it leads to job creation. "For every job that you seek, an entrepreneur creates 10 and that is the multiplier effect of a startup. Today we talk about being challenged in terms of job creation but entrepreneurship and micro entrepreneurship is really the way forward. And it is really not about tech jobs but it is also about creating enterprises out of simple ideas," she added.

"The session with Dr Mazumdar Shaw is a part of FLO activities and its mission of giving the society and the females the ‘The Power to Empower’. It brings together women achievers from all sectors and not just celebrates their success stories but also creates a trail for other women so that they could embark on their own journey towards success," said Pinky Reddy, President, FICCI Ladies Organisation.

Dr Ranbir Singh, Chief Election Officer, Delhi along with Dr Subbarami Reddy, Member of Parliament and Dilip Chenoy, General Secretary, FICCI were present on the occasion.

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