Biocon - Kiran Mazumdar Shaw's Entrepreneurial Dream


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Case Details:

Case Code : LDEN032
Case Length : 11 Pages
Period : 1992-2005
Pub Date : 2007
Teaching Note :Not Available
Organization : Biocon
Industry : Biotech
Countries : India

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Please note:

This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.

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Excerpts

The Leader

Biocon emerged as the #1 biotech company in Asia and #16 in the world in terms of its fiscal 2003-04 revenues. For the fiscal year 2003-04, the company recorded net revenues of Rs 5018.824 mn, almost twice the previous year's figure, and a net profit of Rs 1246.726 mn. (Refer Exhibit III for the financial performance of the company). In the past 25 years, the company had evolved from a maker of enzymes to a major pharmaceutical enterprise, producing everything from insulin19 to antibodies20 (Refer Exhibit IV for the Biocon's achievements). On March 11, 2004, the company launched its initial public offer (IPO) of 10 million equity shares of Rs 5 face value at a price band of Rs 270-315. With this, Biocon became the first biotech company in India to go public.

The IPO was oversubscribed by 33 times, indicating the confidence of investors in Biocon. In December 2004, Biocon's average market capitalization between April 01, 2004 and September 30, 2004 stood at Rs 54 bn...

Looking Ahead

Without resting on her past laurels, Kiran has moved onto even more challenging ventures of developing insulin and drugs that can cure cancer. With 120 mn diabetic patients worldwide and 30 mn in India, diabetes had emerged as an important area for disease research. Biocon, through its subsidiary - Clinigene, embarked on a longitudinal research program in Type II diabetes.24 In the later half of 2004, Biocon launched recombinant human insulin under the brand name 'Insugen.' The product pitted Biocon against leading multinationals like Eli Lilly25 who had already lowered prices...

Exhibits

Exhibit I: Awards Received by Kiran Mazumdar-Shaw
Exhibit II: Biocon Stock Performance
Exhibit III: Biocon's Financial Performance
Exhibit IV: Distinctions Achieved By Biocon
Exhibit V: Biocon's HR Practices
Exhibit VI: Biocon's CSR Initiatives


19]  Insulin is a hormone that helps the body use glucose for energy. The beta cells of the pancreas make insulin. When the body cannot make enough insulin, insulin is taken by injection or through use of an insulin pump.

20]  An antibody is a protein produced by the body's immune system to fight infection or harmful foreign substances.

24]  Type II diabetes is the most common form of diabetes. In type II diabetes, either the body does not produce enough insulin or the body cells do not use the insulin produced.

25]  Based at Indianapolis, US, Eli Lilly discovers, develops, manufactures and sells pharmaceutical products. Its products are sold in approximately 140 countries. For the fiscal ending December 31, 2003, the company earned total revenues of $ 12.5825 bn and a net profit of $ 2.5608 bn.

 

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