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Start of Biocon:
Incorporated in Nov. 1978. Kiran had 70% and Auchincloss 30%. First BioTech company in India. Financed by Canara Bank thanks to personal contacts. Hiring staff and finding offices was very hard. Initial operations: extract enzymes for the UK office.
Growth of Biocon:
1st Phase:
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1984, beginning of R&D efforts in other enzyme technologies. In 3 years, became a successful producer of sophisticated Koji enzymes. 1989: Unilever acquires BioCon UK and 30% of BioCon India. Kiran refused to sell her part in Biocon India. Biocon starts contract R&D (outsourcing) for US and UE firms. Biocon becomes independent entity: Kiran buys the remaining 30% Expansion into the Statins business is a success: 78% of revenues in 2000. Expansion into the clinical studies business is promising. Milestone in 2001: FDA approval in the US. In 25 years, evolved from enzymes producer to major Pharma company. 2004: 1ST biotech cie in Asia and #16 in the world by revenues. Successful IPO in 2004. All growth metrics are spectacular (sales, net profits)
2nd Phase:
3rd Phase:
4rd Phase:
Characteristics of Kiran: Long term thinking to identify opportunities. Personal skills: o Perseverance. o Faith in her abilities.
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Pursuit of excellence.