Friday, September 13, 2013

Apply in Biocon Limited

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Apply in Biocon
Biocon Limited is an Indian biopharmaceutical company based in Bangalore Within biopharmaceuticals, the Company manufactures generic active pharmaceutical ingredients (APIs) that are sold in the developed markets of the United States and Europe. It also manufactures biosimilar Insulins, which are sold in India as branded formulations and in both bulk and formulation forms.
Biocon was founded in 1978 with INR 10,000 as the initial capital, failing to find any financial institution for investment. The operations began out of the garage of a rented house with two employees.
Biocon’s first product to go to market was peptinpapain, an enzyme found in papaya which is used to prevent beer from turning hazy. Until 1983, the company blended enzymes and supplied them to brewing, textiles, biofuels, animal feed and other such industries across the world. In the mid-1980s with a loan of US$250,000 from ICICI Bank, Biocon was able to build a solid-state fermentation plant which helped in the growth of its R&D.
In 1989, the Irish Biocon was acquired by Unilever. In the mid-1990s, Kiran Mazumdar–Shaw decided to focus on biopharmaceuticals rather than enzymes. But Unilever, a major shareholder, did not want to be in the biopharmaceuticals business. At that time, John Shaw, the Scotsman whom Kiran Mazumdar–Shaw had married in 1998, used his savings to reclaim the entire Biocon stake from Unilever.
Biocon soon ventured into the lucrative biopharmaceutical segment. Foreseeing a great opportunity when branded drugs went off patent, they began to develop lovastatin, a cholesterol-lowering drug whose patent expired in 2001. Biocon eventually began making other forms of statins. The company’s revenue went up from INR700 million in 1998, to INR5 billion in 2004 when it went public.



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