Biocon Limited is an Indian biopharmaceutical company based in Bangalore, India founded by Kiran Mazumdar-Shaw.[4] The company manufactures generic active pharmaceutical ingredients (APIs) that are sold in over 120 countries across the globe,[citation needed] including the developed markets of the United States and Europe.[4] It also manufactures novel biologics, as well as, biosimilar insulins and antibodies, which are sold in India as branded formulations. Biocon's biosimilar products are also sold in both bulk and formulation forms in several emerging markets.[citation needed] In contract research services, Syngene International Limited (Syngene), a publicly listed subsidiary of Biocon.

Biocon Limited
BSE: 532523
Founded1978 (43 years ago) (1978)
FounderKiran Mazumdar-Shaw
Key people
Kiran Mazumdar-Shaw
(Chairperson & MD)

Siddharth mittal
(CEO & Joint Managing Director)

Small Molecules
Branded Formulations
Research Services
Revenue 6,528.60 crore (US$920 million) [1] (2020)
1,214.90 crore (US$170 million) [1] (2020)
748.20 crore (US$100 million) [1] (2020)
Total assets 14,443.80 crore (US$2.0 billion) [2] (2020)
Total equity 6,705.80 crore (US$940 million) [2] (2020)
Number of employees
9,234 (Mar 2017)[3]

Biocon's formulations for the Indian market include metabolics, oncology, immunotherapy and nephrology products. Some of Biocon's key brands in India include INSUGEN (rh-insulin), BASALOG (Glargine), BIOMAb EGFR (Nimotuzumab), BLISTO (Glimepiride + Metformin), CANMAb (Trastuzumab), Evertor (Everolimus), TACROGRAF (Tacrolimus), ALZUMAb(Itolizumab) and KRABEVA (Bevacizumab).[4]

Biocon and Syngene together employ about 9200 personnel.[4]


Biocon was founded in 1978 with Rs. 10,000 as the initial capital.[5]

  • 1979 - Becomes the first Indian company to manufacture and export enzymes to USA and Europe.[6]
  • 1989 - Unilever acquires Biocon Biochemicals Ltd. in Ireland and merges it with its subsidiary, Quest International; Biocon receives US funding for proprietary technologies.[7]
  • 1994 - Establishes Syngene International Pvt. Ltd. as a Custom Research Company (CRC).[7]
  • 1998 - Unilever agrees to sell its shareholding in Biocon to the Indian promoters. Biocon becomes an independent entity.[8]
  • 2001 - Becomes the first Indian company to be approved by USFDA for the manufacture of lovastatin; PlaFractor is granted a US 2001 and worldwide patent.[9]
  • 2003 - Biocon becomes the first company worldwide to develop human insulin on a Pichia expression system.[10]
  • 2006 - BIOMAb EGFR, first indigenously developed humanised monoclonal antibody for head-and-neck cancer is launched and Dr. APJ Abdul Kalam inaugurates India's Largest Biotech-Hub "Biocon Park".[11]
  • * 2008 - Biocon acquires a 70% stake in German pharmaceutical company, AxiCorp GmbH.[12]
  • 2009 - Syngene-Bristol Myers Squibb research facility is established in Bengaluru.[13]
  • 2009 - Mylan announces strategic collaboration with Biocon to Enter the Global Generic Biologics Market.[14]
  • 2010 - Biocon expands to Malaysia, biopharmaceutical manufacturing and R&D facility established in Iskandar Malaysia, Johor.[15]
  • 2011 - Biocon launches INSUPen®, a convenient and affordable reusable insulin delivery device.[16]
  • 2012 - Abbott announces collaboration with Syngene to Open First Nutrition R&D Center in India.[17]
  • 2013 - Biocon launches biologic drug ALZUMAb to treat psoriasis.[18]
  • 2014 - Biocon launches world's first biosimilar drug CANMAb to treat breast cancer.[19]
  • 2015 - Biocon launches hepatitis-C drug in India under brand name CIMIVIR-L.[20]
  • 2016 - Becomes the first Indian company to launch a biosimilar Insulin Glargine pen in Japan.[21]
  • 2016 - Syngene sets up Amgen R&D center in Bangalore.[22]
  • 2017 - Biocon's Insugen is the first locally manufactured biosimilar product to be approved for sale by the Malaysian drug regulator.[23]
  • 2017 - USFDA approves Mylan-Biocon's biosimilar for cancer drug Herceptin.[24]
  • 2018 - Biocon, Mylan get European Commission approval to market biosimilar insulin glargine.[25]

Corporate governance

Kiran Mazumdar-Shaw is an Indian entrepreneur. She founded Biocon in 1978.

Biocon's CMD Kiran Mazumdar–Shaw joined Biocon in 1978.[26][27][28]

Her efforts in biotechnology have drawn global recognition both for the industry in India and for Biocon and she has been called India's 'biotech queen' by The Economist[29] and India's 'mother of invention' by The New York Times.[30] She was recently named[when?] among TIME magazine's 100 most influential people in the world based not only on her contribution to the biotech industry but also because she gives back to the community.[31] Ms Shaw features on the Forbes list of ‘The World’s 100 Most Powerful Women’[32] and in Financial Times’ ‘Top 50 Women in Business’ list[33]

Shaw is the recipient of several awards including the Nikkei Asia Prize, 2009 for Regional Growth,[34] Express Pharmaceutical Leadership Summit Award 2009 for Dynamic Entrepreneur, The Economic Times ‘Businesswoman of the Year’, the ‘Veuve Clicquot Initiative For Economic Development For Asia, Ernst & Young’s Entrepreneur of the Year Award for Life Sciences & Healthcare, ‘Technology Pioneer’ recognition by World Economic Forum and The Indian Chamber of Commerce Lifetime Achievement Award. She has received two Indian national awards—Padma Shri (1989) and Padma Bhushan (2005) for her pioneering efforts in Industrial Biotechnology.[26]

Biocon announced that Dr. Christiane Hamacher has been appointed as the CEO of Biocon Biologic India Limited, with her term having started in March 2019.[35]

On 3 December 2019, Siddharth Mittal took over from Dr. Arun Chandavarkar who retired as CEO & Joint Managing Director of Biocon.[36]


Syngene International Ltd

Established in 1993, Syngene International Limited is Biocon's custom research organisation offering pharmaceutical and biotechnology majors customized solutions in synthetic chemistry and molecular biology for early-stage drug discovery and development.[citation needed]


Clinigene International Limited is a subsidiary on Syngene offering international pharmaceutical majors Phase I-IV clinical trials and studies for novel/generic molecules.[26]


Biocon established Biocon Biopharmaceuticals Pvt. Ltd. (BBPL) in 2003 as a joint venture with the Cuban institute CIMAB to develop and market a range of MAbs and cancer vaccines.[26]


In 2008, Biocon acquired a majority stake of 70% in AxiCorp GmbH, a German pharmaceutical marketing company.[citation needed]


Incorporated in January 2008, NeoBiocon FZ LLC is a research and marketing pharmaceutical company based in Abu Dhabi.[citation needed]

Biofusion Therapeutics Limited

Incorporated in March of 2021, 100% owned by Biocon.

Strategic Partnerships

Biocon and Amylin

In 2009, Biocon and Amylin Pharmaceuticals of the United States entered into an agreement to develop, commercialise and manufacture a novel peptide therapeutic for the potential treatment of diabetes. Amylin provides expertise in peptide hormone development, particularly in the area of phybrid technology and metabolic disease therapeutics. Biocon will utilise its expertise in recombinant microbial expression and experience in preclinical and clinical development of diabetes products to manufacture the compound.[26]

Biocon and IATRICa

In 2008, Biocon and IATRICa of the United States announced a strategic partnership to co-develop immunoconjugates for targeted immunotherapy of cancers and infectious diseases. The companies are co-developing candidate products based upon IATRICa's technology platform and Biocon's expertise in drug development, biologics manufacturing, and clinical research. The goal of this collaboration is to develop a therapeutic vaccine where the T cell mediated immunity is enhanced and maintained against a tumor which otherwise evades immune responses. Methods of developing, characterising and scaling up of conjugated monoclonal antibody production are being currently studied.[26]

Biocon and Mylan

In 2009, Biocon signed a collaboration agreement with Mylan to develop and commercialize generic biologics. Mylan and Biocon will share development, capital and other costs to bring products to market. Mylan will have exclusive commercialisation rights in USA, Canada, Japan, Australia, New Zealand, EU and European Free Trade Association countries through a profit sharing arrangement with Biocon.[26]

Biocon and Optimer

Biocon and Optimer Pharmaceuticals, a biopharmaceutical company focused on the treatment of serious infections such as Clostridium Difficile Infection (CDI), have entered into a long-term supply agreement for the commercial manufacturing of the active pharmaceutical ingredient, fidaxomicin.,[4][26]

Biocon and Vaccinex

Biocon is also developing fully human antibodies BVX 10 and BVX-20 with a US antibody technology partner, Vaccinex. The partnership was initiated in 2004. BVX 10 targets TNF (Tumor Necrosis Factor) which is expressed at high levels in patients suffering from rheumatoid arthritis. Biocon's strategic partnership with Vaccinex allows access to their proprietary human antibody platform technology, thereby providing a strong IP protection to Biocon's antibody pipeline.,[4][26]

Biocon and Abraxis

In 2007, Biocon and Abraxis BioScience, Inc. entered into an agreement which helped Biocon out-license the rights to develop and market a biosimilar version of GCSF (Granulocyte Colony-Stimulating Factor) to North American and European markets.[26]

Biocon and Sandoz

In January 2018, Sandoz (a Novartis division) announced a global partnership with Biocon to develop, manufacture and commercialize multiple biosimilars in immunology and oncology for patients worldwide. .[37]

Biocon technology

Biocon's manufacturing facilities are located at two sites in Bangalore.[26]

Research & development capabilities

Biocon's R&D focuses on the entire drug development pathway – from process development to non-clinical and clinical research.[26]


Biocon offers 36 brands of products across the four therapeutic divisions of diabetology, nephrology, oncology, and cardiology.[4]


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  2. "Biocon Consolidated Balance Sheet, Biocon Financial Statement & Accounts". Retrieved 31 July 2020.
  3. "Biocon Annual Report 2017" (PDF). Biocon.
  4. "Biocon Annual Report, 2010" (PDF). Archived from the original (PDF) on 26 October 2010. Retrieved 20 September 2010.
  5. Egan, Mary Ellen. "Big Shot in Bangalore". Forbes. Retrieved 7 March 2021.
  6. nimmi. "Biocon, India's largest biotech company". Retrieved 8 February 2018.
  7. Kiran Mazumdar-Shaw, CMD, Biocon Ltd, ‘Biotech Is Not for Punters’, Outlook Money, 15 July 2004
  8. Baisya, Rajat K. (9 September 2010). Winning Strategies for Business. SAGE Publications India. ISBN 9788132106081.
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  14. "Mylan Announces Strategic Collaboration with Biocon to Enter the Global Generic Biologics Market". MediaRoom. Retrieved 8 February 2018.
  15. "Biocon Limited To Build US$161 Million R&D Facility in Bio-XCell, Malaysia". Asian Scientist Magazine | Science, technology and medical news updates from Asia. 11 September 2011. Retrieved 8 February 2018.
  16. "Biocon Launches INSUPen®, a Convenient and Affordable Reusable Insulin Delivery Device | Evaluate". Retrieved 8 February 2018.
  17. Abbott. "Abbott Announces Collaboration with Syngene to Open First Nutrition R&D Center in India". Retrieved 8 February 2018.
  18. "Biocon unveils biologic drug to treat skin disorder". @businessline. Retrieved 8 February 2018.
  19. "Kiran Mazumdar-Shaw's Biocon develops new breast cancer drug". 18 January 2014. Retrieved 19 January 2014.
  20. Pilla, Viswanath (24 December 2015). "Biocon launches hepatitis-C drug in India". Retrieved 8 February 2018.
  21. Pilla, Viswanath (15 July 2016). "Biocon's partner FUJIFILM launches insulin glargine in Japan". Retrieved 20 December 2017.
  22. "Indian CRO Syngene sets up Amgen R&D center in Bangalore | FierceBiotech". Retrieved 8 February 2018.
  23. "Biocon Wins MYR 300 Million Contract For Insulin From MoH Malaysia". Retrieved 20 December 2017.
  24. Trivedi, Isha (2 December 2017). "US FDA approves Mylan-Biocon's biosimilar for cancer drug Herceptin". Retrieved 8 February 2018.
  25. "Biocon, Mylan get European Commission approval to market biosimilar insulin glargine". Business Medical Dialogues. 30 March 2018.
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  27. Nature Reviews Drug Discovery, July 2010
  28. Biospectrum India Friday, 11 July 2008
  29. Kiran Mazumdar Shaw, India's fermentation queen, 30 August 2001
  30. "How India's Mother of Invention Built an Industry", 16 August 2003
  31. Time, 29 April 2010
  32. The World's 100 Most Powerful Women, Forbes, 19 August 2009
  33. FT top 50 women in world business, Financial Times, 25 September 2009
  34. The Hindu, 12 May 2009
  35. "Biocon appoints Christiane Hamacher as CEO of Biocon Biologics India". Medical Dialogues. 2 March 2019.
  36. "Biocon names Siddharth Mittal as new CEO, Joint MD; bids farewell to Arun Chandavarkar". Medical Dialogues. 3 December 2019.
  37. "Sandoz announces exclusive global collaboration with Biocon on next-generation biosimilars | Novartis". Novartis. Retrieved 8 February 2018.