Unlike other sectors, the global meltdown may lead to more joint ventures and acquisitions among the foreign and domestic biotech compa
nies in the current fiscal, says the industry analysts.
"We have the knowledge of joint venture and merger opportunities for some of the Indian biotech majors," Ernst & Youngs Partner, Utkarsh Palnitkar said.
He predicted that there will be a paradigm shift in the biotechnology sector in the current year.
Endorsing the views of Palnitkar, the CEO of Ocimum Biosolutions Anuradha Acharya said, Indian (biotech) companies may acquire more foreign biotech units.
The valuations of most of the foreign biotech companies have receded due to global meltdown, she added.
Jupiter Bioscience Chairman and Managing Director Venkat R Kalavakolanu said that the global meltdown will also benefit the Indian firms to attract the key talent from the foreign companies.
He also added that the Indian biotech companies should focus acquiring biotech units in US & Europe, following the fall in their valuations due to global meltdown.
Palnitkar, who was associated with the Andhra government for drafting the biotechnology policy, observed that the biotechnology industry is now moving from fee based activity to risk & reward mode.
Source: ET
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