BIO Returns to India and the Industry Continues to Grow
During this period of tremendous growth in both the Indian economy and its healthcare sector, it is a critical time to capitalize on the biotech opportunities available within India. As the trade association that represents the biotech industry, BIO is pleased to bring the BIO India International Conference back to India in an effort to further create and drive business development and collaborations through investor and partnering conferences.
The BRIC countries – Brazil, Russia, India and China – are expected to grow at a rate that would make them among the world’s most dominant economic powerhouses by 2050. According to Scientific American’s third annual Worldview: A Global Biotechnology Perspective, the four economies together would then equal the size of the combined economies of the G7 nations.
In the Worldview report, India along with China and Brazil was recently named as likely to have the strongest gains in developing next generation life-saving products in the coming decade. Due to the colossal increase in capital, a well-educated population, India’s existing biotech and pharmaceutical companies, research will move progressively towards India, especially as the demand for improved healthcare increases.
The country has great experience in medicinal chemistry and manufacturing small molecules through its tremendous global market share for generic pharmaceuticals. India companies produce 20 percent of the world’s supply of generic drugs and 30 percent of U.S. consumption of generics. And the country’s biotechnology industry grew by 17 percent from 2009 to 2010.
India also is the world’s largest manufacturer of vaccines and the growth of India vaccine makers arises from their ability to develop and produce high-quality vaccines with low manufacturing costs, which have been primarily marketed in the developing world.
There is good reason to invest in vaccines in India. Sales of human vaccines are forecast to grow by 10 – 13 percent a year over the next five years. Likewise, in2006, the Serum Bio Pharma Park, India’s first special economic zone for biotechnology and pharmaceutical products was built. With this development, an expanding group of India firms plan to invest heavily in innovative approaches to biotechnology which should help turn the country in to a leader in the creation and manufacturing of new pharmaceuticals.
With all of the promise India has to offer, it is no wonder BIO is returning. BIO India will bring together biotech and pharmaceutical leaders from the U.S., Europe and Asia to explore potential partnerships and collaborations with India’s life science companies. The event features industry leaders delivering keynote speeches, unique programming, and one-on-one meetings between western and Indian investors, biotech and pharmaceutical companies.
BIO brings to India more than ten years of leadership and expertise in conferences and conventions that bring biotech and pharmaceutical companies together to develop collaborations. BIO hosts the BIO International Convention, the global event for biotechnology, and we are bringing this expertise to India for BIO India. India represents one of the largest global delegations that attend the Convention each year. BIO is also renowned for its successful international partnering meetings and investment conferences in the U.S., Japan, and Germany.
India’s biotech and pharmaceutical space is world class, and the number and type of collaborations between Indian and US or EU companies has grown rapidly in the past few years.
The Association of Biotechnology Led Enterprises (ABLE), a national forum that represents the Indian biotechnology sector, will participate as the local host. ABLE brings to the meeting extensive local expertise and its comprehensive network of Indian and Asian biotech and pharmaceutical companies.
BIO represents more than 1,100 members worldwide with 90 percent of members representing small and medium size companies. BIO members are involved in the research and development of healthcare, agricultural and industrial and environmental biotechnology products and applications. BIO represents biotechnology companies, academic institutions, state biotechnology centers and related organizations across the U.S. and in more than 30 other nations.