With over 50 IPOs raising about $ 7.5 billion in the US during the year, companies in the sector have ample reasons to cheer, according Association of Biotech Led Enterprises (ABLE).
The Indian Biotechnology industry is expected to accelerate towards the anticipated $ 100 billion mark by 2025. That would need a growth rate of 30 -35 per cent. This seems to be difficult task at a time when there are a quite a few fundamental issues, both at the macro and micro level, the association feels.
Investment trends in India seem to indicate that the optimism of the US firms has not made much of a difference to the Indian investment scenario in the short term.
According to PM Murali, President, ABLE, “The Indian biotech sector holds the potential to address various challenges including healthcare, agriculture and pharma. With the new Environment Minister Veerappa Moily considering approval for GM crops, this is a good sign for attracting investment into the agriculture sector.”
BIOINVEST
Biotech leaders in India will meet during ‘BIOINVEST 2014’ in Mumbai to be held on January 24, 2014. The event will bring together on one platform life science companies, institutional investors and investment bankers to explore opportunities for investment in biotechnology sector.
The conference aims at finding the right path of growth for the sector by bringing together the industry to debate and discuss on the potential offered by the biotech sector, he said. It will look into issues relating to skill development and education as the main pillars for the industry to grow.
The recent announcement of a $ 1 billion investment by a pharma MNC is encouraging and goes to prove that India remains an attractive investment destination despite challenges. In the past year a significant investment in the drug discovery space by a Japanese major also bodes well for India’s capabilities.
Launched in 2003, ABLE is an exclusive forum to represent the Indian biotechnology sector with over 270 members.
rishikumar.vundi@thehindu.co.in