Biocon to add 3,500 jobs by 2014

Tags: Knowledge
Biotechnology major Biocon Group said it expects to double its headcount to about 8,000 in the next four years. Led by significant opportunity in India, it is also aiming to hit the $1 billion revenue mark in the next three years, according to company chairman and managing director Kiran Mazumdar-Shaw.

The Bangalore-based gr-oup has nearly doubled its employee base to 4,500 in the last four years. As of March 2006, the total headcount was 1,839, which grew to over 4,000 as of March 2010 at a CAGR of 25 per cent. This is much lesser than the CAGR of revenue growth of 32 per cent, from Rs 793 crore in FY06 to Rs 2,405 in FY10.

About five per cent of Biocon’s employees have PhD degrees, 41 per cent have a master’s degree in science and the remaining are graduates with a bachelor’s degree in science, commerce or arts. About 15 per cent of Biocon employees are women.

Speaking to Financial Chronicle on the sidelines of Bangalore India Bio 2010 conference, Mazumdar-Shaw refused to comment on whether the Euro currency crisis would have a negative impact on Biocon’s revenue. She said that the Indian biotech sector, which attracted investment of Rs 100 crore last year, will attract about $1 billion investment in couple of years.

Referring to regulatory challenges the sector is facing, Mazumdar-Shaw felt that the case of BT Brinjal shows that there is no proper regulatory structure in place to take a call on approval. “There are similar issues in bio-pharma space. We are good at generic, but not at new products,” she said.

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