Biocon, India’s largest biotechnology company, manufactures innovative biopharmaceuticals (medical drugs produced using biotechnology) which cater primarily to high growth areas of diabetology, nephrology, cardiology and oncology. A research-driven company, Biocon has been continuously focusing on bringing out innovative molecules; it launched the world’s first recombinant human insulin ‘Insugen’.
But this focus on research and development has led to somewhat muted growth – especially in profitability – over the years, as compared to other pharmaceutical companies. However, recently, it signed a mega marketing deal worth $ 350 million with the world’s largest drug-maker Pfizer to globally commercialise four of its insulin biosimilar products.
So, what does this deal signal for Biocon’s future?
And, will the company now capitalize on its R&D investments and shift gears in the future?