What products and services do Indian biotechnology firms provide?
• Affordable vaccines • Several firms do this. • First domestically produced and marketed recombinant DNA product developed in 1997. • Competition leads to lower prices • Entrance into local market for Hepatitis-B vaccines, as well as competition among Indian firms, led to a 30X decrease in the price compared to imported vaccines ($15 => $0.50) • India is a major supplier for other developing countries • Shantha Biotechnics supplies nearly 40% of the UNICEF global requirement for Hepatitis-B vaccine. • The company devotes about 25% of its revenues to R&D. • This is high, even for US firms. • Funding came from long-term low-interest loans and from private equity, including money from Morgan Stanley. • In 2006, Merieux Alliance of France purchased a 60% share of the company. • Works collaboratively with foreign firms to develop new products. • Because of the lack of government support for private research, the company entered into several private-public partnerships. • Serum Institute of
