Biotechnology in India - Initiatives by the Government
The Department of Biotechnology (DBT) was set up under the Ministry of Science and Technology in 1986. This gave a new impetus to the development of biotechnology in India. The DBT has set up many Centres of Excellence in the country. These centers are responsible for generating skilled manpower as well as supporting R&D efforts of private industries. This has promoted interactions between the academia and the industry which has resulted in several industry houses from the "old industry" and entrepreneur initiatives to take root and grow biotechnology in India.
Biotechnology Market in India
Biotechnology has really taken off not only as a discipline in college textbooks but also has yielded fruit in terms of profit-making business enterprises. The success of the Biotechnology industry has lead to sustained economic growth in the developed nations like US, European countries and Canada. India is also fast emerging as a key player in biotechnology related activities and investments. Currently, although the biotechnology market in India contributes only a 2% share in the global market,
Ranbaxy launches generic Lipitor
India's largest drug company, Ranbaxy, which had been chasing a dream for years to launch the first generic version of world's top-selling medicine Lipitor in the US, has finally succeeded-and, that too, as per schedule.
Lupin set to buy Japan’s I’rom Pharma
Pharmaceutical firm Lupin will acquire Japan's I'rom Pharmaceutical Co for an undisclosed sum as it looks to expand footprint in the country. The company's Japanese subsidiary Kyowa Pharmaceutical Industry Co has entered into an agreement with I'rom Holdings Co Ltd (IH), an integrated healthcare provider to acquire up to
IVRI scouts for industry partners
To meet the increased demand for the livestock vaccines and diagnostics in the country and the region, Indian Veterinary Research Institute (IVRI) has decided to transfer technologies developed by its researchers. The IVRI is looking for experienced companies interested in commercial production and marketing of its technologies and ensuring the availability of these vaccines and diagnostics for large-scale use.
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