Bangalore Bio 2003, the three-day annual event of the biotechnology industry, kicks off today (Tuesday). Kiran Mazumdar-Shaw, chairperson and managing director of Biocon India and one of the prime movers of the young industry, spoke to Subir Roy on the issues before it.
Why are Indian biotechnology companies finding it increasingly difficult to access funding?
The long gestation time lines in product commercialisation, capital intensive projects profiles, poor understanding of the sector and the small size of the Indian biotech market are all factors that profile biotech as a risk ridden segment for funding. There are very few profitable biotech companies in the country, which adds to this apprehension in the financial circles.
How serious a handicap is the loose regulatory system leading to unethical competition (witnessed in the case of the Hepatitis-B vaccine) and bureaucratic delays in approval of products at various stages of development?
Bureaucratic delays are stifling growth in the sector. India should be far more aggressive in launching
