Biotech industry accounts for below one per cent of global revenues
The Indian biotechnology industry, with total revenues of $720 million in 2003-04, accounts for less than one per cent of global biotechnology revenues, says a study conducted by Export-Import (Exim) Bank. The study found that the total revenues of the Indian biotechnology industry shot up to Rs 3,265 crore in the financial year 2003-04, thereby registering a 39 per cent year-on-year growth compared to 2002-03.

Biotech needs Centre’s fiscal dose: Kiran Shaw
Urging Indian biotechnology sector to work towards becoming a $5 billion business by 2010, Biocon CMD Kiran Mazumdar Shaw said that the country should offer strong biotech products in the global market.

Serum slashes GeneVac-B price by 60 per cent in MRP
Serum Institute of India Limited, the largest manufacturer of vaccines in India and also the largest manufacturer of measles and DTP group of vaccines in the world, has announced a price cut of upto 60 per cent in the maximum retail price (MRP) of their hepatitis-B vaccine, GeneVac-B.

Glenmark, Teijin sign $53m pact for asthma molecule
Glenmark Pharmaceu-ticals SA, the Switzerland-based wholly-owned subsidiary of Glenmark Pharmaceuticals, and Teijin Pharma, a wholly-owned subsidiary of Japan-based Teijin Ltd has entered into a $53 million out-licensing agreement for Glenmark’s asthma molecule PDE4 inhibitor GRC 3886.