Bangalore, Karnataka, India:   -- Industry records 37.42 percent growth to notch $1.45 billion (Rs 6,521 crore) -- Biocon is India's largest Biotech Group -- Rasi is India's top Bt cotton producer -- BioPharma crosses $1 Billion Mr Jairam Ramesh, Minister of state for Commerce, released the much-awaited issue of Bio Spectrum in Bangalore that unveiled 4th BioSpectrum-ABLE Biotech Industry Survey, done in April-May 2006, which shows that the industry has attained the critical momentum and is bullish. For the third year in a row, the industry has clocked growth in excess of 35 percent. In 2005-06, the industry grew by 37.42 percent to record $ 1.45 billion (Rs 6,521 crore) in revenue. The industry recorded 36.5 percent growth to cross the $ 1 billion in 2004-05. The BioPharma sector alone crossed the $1 billion (Rs 4,475 crore) mark, propelled by exports at Rs 2495.24 crore. "The BioAgri sector has recorded the highest growth, buoyed by the overwhelming response to Mahyco-Monsanto's Bollgard Bt cotton seeds. With 81 percent growth rate, the industry has shown that the 2004-05 performance was not just a flash in the pan. In fact, the popularity of Bt cotton has helped the BioAgri sector to nearly double its size to Rs 598 crore from Rs 330 crore and brought four seed companies into the BioSpectrum Top 20 rank for the first time," informed Dr KK Narayanan, president, ABLE and Managing Director MetaHelix Lifesciences. There are some surprises in the Top 20 Rankings. Pune-based Serum Institute of India, led by Dr Cyrus Poonawalla, has overtaken Biocon Ltd, the leader for the last three years, to be the No.1 biotech company in the country. Serum which sells vaccines in nearly 150 countries notched up Rs 703 crore in sales, ahead of Biocon Ltd's Rs 688 crore by Rs 15 crore. "The Top 20 list has begun to reflect the churnings and growth in the industry with all the major segments, BioPharma, BioAgri, BioIndustrial companies finding good representation at the head table of the biotech industry," said Narayanan Suresh, Editor, BioSpectrum. While Biocon registered 6.44 percent growth, Serum Institute of India grew by 39.21 percent in FY06. The Top three companies are primarily in the BioPharma sector and accounted for a total business of Rs 1,829 crore. Panacea Biotec is the third largest company with biotech revenues of Rs 437.82 crore. The fourth (Mahyco Monsanto Biotech, Rs 391 crore), fifth (Rasi Seeds, Rs 309 crore) and eighth (Mahyco, Rs 117.76 crore) ranked companies are focused on the BioAgri segment. The three account for Rs 817.76 crore in revenues. -- Biotech industry inches closer to $1.5 billion ($1.45 billion). -- BioPharma sector crosses $1 billion ($1.046). -- BioServices sector touches $160 million. -- BioAgri sector crosses $130 million. -- Industry record 37.42 percent growth. 51% of revenues are from exports The biotech industry, which started to gain size in the 21st century, is still dependent on exports to get over half its revenue. In fact, the share of exports has increased marginally last year from 48.5 percent to 51.5 percent in 2005-06, accounting for Rs 3,357.17 crore (or $ 756 million). In many ways, biotech is mirroring the software industry. In fact, the BioServices sector, including clinical research and clinical trials, is predominantly dependent on foreign client who account for 95 percent of the industry revenues of Rs 720 crore. It also indicates that the introduction of the product patent regime has prompted big pharma to move a lot of clinical trials to take advantage of India's competitiveness. BioPharma exports accounted for 74.33 percent of the total exports of Rs 3,357.17 crore, clocking Rs 2,495.24 crore in revenues. BioAgri's share of exports was the lowest at 1.07 percent and exports from this segment stood at Rs 35.88 crore. BioServices overseas revenues were Rs 684 crore. BioIndustrial and Bioinformatics sector accounted for 1.23 percent and 3 percent share of the total exports respectively. That the biotech industry is research intensive is well known. This has been revalidated by the increasing investment levels (Rs 1,650 crore against Rs 1,215 crore in the previous year). The industry is investing 25.3 percent of its revenues into research and building infrastructure. The southern region as a whole continues to be second accounting for 36 percent of the industry revenues, while the West is the topper for the fourth year in a row with companies from the region totaling Rs 3,234.42 crore or 49.6 percent of the national biotech share. Biocon Group with total sales of Rs 793 crore in 2005-06 was the No. 1 Group.This includes the sales revenues of group companies-Syngene, Clinigene and Biocon Biopharmaceuticals. The Serum Group is the No.2 group with sales of Rs 742 crore (Serum Institute and Serum International). The industry and the BioSpectrum-ABLE Survey results will be available for the first time in two volumes in June and July. About BioSpectrum BioSpectrum, published from Bangalore as India's first exclusive magazine on biotechnology was launched by CyberMedia in March 2003. About CyberMedia CyberMedia is South Asia's first and largest specialty media house, with twelve publications (including Dataquest PCQuest, and Global Services) in the infotech, telecom, consumer electronics and biotech areas; and a media value chain including the internet (www.ciol.com), events and television. The group's media services include market research (IDC India), job board (CyberMedia Dice), content outsourcing, multimedia, and media education. About ABLE ABLE (www.ableindia.org) - The Association of Biotechnology Led Enterprises, is the collective face and voice of the Indian Biotechnology industry. ABLE was set up as a forum that would generate a symbiotic interface between the industry, the government, academic and research bodies, and domestic and international investors and to build brand equity for the industry in the global market place. To view the table please click on the link given below: www.businesswireindia.com/attachments/Table(1).doc