Biocon to sell human insulin in Europe

Biotech major Biocon is betting big on its recombinant human insulin in FY07 and is preparing a detailed European marketing plan for it.

Kiran Mazumdar Shaw, chairman and managing director, Biocon, said, "Since Europe is progressive in accepting bio-similar (generics) products, we plan to enter this market earlier than the other regulated markets such as the US and Japan this year."

For this purpose, the company plans to build a network of marketing partnerships in Europe. A similar strategy for the US and Japan will follow, she added. The company expects insulin, its other branded formulations and research services to drive growth.

Talking about the road ahead for the company, she said, "Biocon is rapidly transforming itself from a generics active pharmaceutical ingredient (API) manufacturer to an innovator developing a robust pipeline of new molecules."

She said, "Despite a fiercely competitive environment, the company has been able to sustain a healthy 30 per cent operating margin for the year."

The company plans to enter the oncology market soon with its antibody product, Biomab-EGFR, for the treatment of cancer of head and neck.

"The year ahead will also continue to be challenging due to uncertainties in the market conditions and the impact of depreciation at our new facilities at the Biocon Park," she said.

"It is important to reiterate that the biotech sector needs to be evaluated on a medium to long-term basis, given the gestational nature of R&D investments and regulatory timeframe," she added.