Biocon doubles R&D spend

Biocon, with a strong drug discovery pipeline, has doubled its research and development (R&D) spend to Rs 30 crore in the first nine months of operations in FY07. In the third quarter alone, the company has spent Rs 13 crore.

According to Chairman and Managing Director Kiran Mazumdar-Shaw, "R&D continues to be our focus considering the importance of discovery pipeline in our way forward. We are making good progress on all molecules we are developing."

"Our BioMab EGFR's (monoclonal antibody for the treatment of cancer) local debut has been good and we have been able to licence this molecule for Pakistan soon. We will look at similar licensing arrangements with Sri Lanka, Bangladesh, the Gulf region and South Africa," she said.

The company for the next fiscal is looking at licensing opportunities for other important discovery programmes such as the oral insulin and T1H (indicated for rheumatoid arthritis) which are now expected to enter phase II clinical development later in 2007.

"With Biocon Park becoming fully operational, we have been able to reduce the cost of manufacturing," Shaw said.