Biocon to establish a beachhead in the UK

LONDON: India's Biocon is soon to establish a beachhead in the UK, and is setting up an office in London.

The company, which claims to be India's largest biotechnology firm, has already announced its interest in entering Europe and the US to sell its recombinant human insulin by the fiscal year ending in March 2007.

The company has also announced that it has roped in partners in the US and Europe for filing regulatory dossiers and marketing. Currently, 75% of the companies insulin sales come from overseas markets like Latin America, Middle East, and South East Asia.

Ms Kiran Mazumdar Shaw, the founder of Biocon has personal links with the UK, as she is married to a Scotsman. The company will announce its plans for the establishment of a set-up in UK in the next week.

Biocon's founder Ms Shaw, has made it clear that Europe and US have huge market potential for the company's products, but that it is unlikely to make major inroads in terms of market share for about 2 years.

While recombinant human insulin will be the main focus, Biocon's other products to hit these markets are GCSF ��� a protein used to increase the production of soldier white blood cells in cancer patients and streptokinase ��� a clot dissolving medication for heart patients.

The global market for insulin is about $5 billion a year, with the leading products being Eli Lilly's Humulin and Novo Nordisk's Novolin.