Mazumdar-Shaw: Pep pill

Hyderabad, Feb. 16: Bangalore-based Biocon plans to invest Rs 1,000 crore in Andhra Pradesh to set up a bio-pharma unit in the special economic zone near Visakhapatnam, according to managing director Kiran Mazumdar-Shaw.

She got the allotment letter from Andhra Pradesh chief minister Y.S. Rajasekhar Reddy today for 50 acres in the Jawahar Pharma City, a special economic zone 45 km away from Visakhapatnam. The zone is being developed by the RamKey Group.

The SEZ has a state-of-the-art common effluent treatment plant with marine discharge facility. Biocon is one of the anchor investors in the SEZ.

She was in Hyderabad to participate in the ongoing Bio-Asia 2007 conference.

“We are also setting up another unit over 10 acres in the Biotech Park near Hyderabad,” she said.

The special economic zone in Hyderabad is being developed by the state industrial infrastructure corporation.

Biocon is the country’s premier biotechnology company. It has evolved from an enzyme company to a fully integrated biopharmaceutical enterprise focused on healthcare.

Biocon has posted a 44.89 per cent increase in net profit in the third quarter ended December 31 at Rs 47.51 crore compared with Rs 32.79 crore in the year-ago period.

Total income rose to Rs 216.35 crore, up 24.06 per cent from Rs 174.39 crore for the same period in the previous year.

The third quarter’s growth is mostly because of research services and biopharmaceuticals delivering a strong growth supported by statin exports to the US and technology and licensing revenues.