INDIAN BIOPHARMA HITS RS 25,000 CRORE RIDING 15% GROWTH WAVE

The Indian Biopharma Industry, with over 300 companies, is growing at the rate of 15 per cent, which is 3 per cent more than the previous year’s 12 per cent.

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This growth was largely driven by over 20 per cent growth rate recorded by 8 of the top 20 companies in the biopharma space. As a result, the Indian Biopharma Industry has crossed the Rs 25,000 crore mark for the year 2019-20 over the previous year’s figure of Rs 22,124 crore. In 2017-18 the industry recorded a revenue of Rs 18,290 crore. The Indian Biopharma industry, comprising hormones, insulin, blood products and vaccines recorded a sales revenue of Rs 25,442 crore for the year 2019-20.

The Serum Institute of India Ltd continues to lead the Indian biopharmaceutical space with a revenue of Rs 5,014 crore followed closely by Biocon with Rs 4,487 crore and Novo Nordisk with Rs 1,465 crore. Top 3 biopharma companies contribute to 43 per cent of the total biopharma industry of Rs 25,442 crore. And, Top 20 biopharma companies contribute to 86 per cent of the total biopharma industry.

The Western region continues to dominate the biopharma industry with a contribution of 54 per cent followed, by the Southern region’s 37 per cent and 3 per cent coming from the Northern region.

Though India is a leading vaccine manufacturer, companies still imported Rs 2,804 crore worth vaccines in 2019-20, as against Rs 2,135 crore worth vaccines imported the previous year. In 2019-20, India imported Rs 1,328 crore worth insulin products, as against 1,090 crore the previous year. However, vaccines worth Rs 5,723 crore were exported in 2019-20 as against Rs 4,453 crore exported in 2018-19.