Corporate Buzz
Lifesciences & Healthcare

New Delhi

Biocon eyes $1 bn revenue in next three fiscals:

Biotechnology major Biocon aims to achieve revenues of USD 1 billion in the next three years. On the main drivers of future growth, "Their main emphasis is on the chronic diseases. The main emphasis is on diabetes, cancer and auto immune diseases."

The company also has plans to list its contract research and manufacturing services arm Syngene. It will be done in the next 18 months. They need to see sustained growth over four quarters before they do it.

Last year the company had forayed into Malaysia and is in the process of setting up a bio manufacturing and R&D facility at Bio-Xcell, a biotechnology park and ecosystem in Iskandar Malaysia, Johor with an investment of USD 161 million (about Rs 715 crore) in the first phase.


New Delhi

Global retailers revive India plan; Await cabinet approval for FDI in multi-brand to break into desi market:

Famous Manhattan address Saks Fifth Avenue is back at work, reviving plans to enter India. The American luxury store chain isn't the only one braving an environment roiled by global economic uncertainties . The list of international retailers looking at India as a priority market for business expansion include South Korea's Lotte, Thailand's Central Group and Myer of Australia.

Even Spanish retailer El Corte Ingles, which is the world's fourth largest department store chain, send their strategic consultants to explore the local market. India's relatively robust domestic economy and fresh moves to allow foreign direct investment (FDI) in general retail have galvanized their interest despite bruised consumer sentiments worldwide. A Saks team, including representatives of its Dubai franchise Style Avenue Middle East, has been traveling to India holding discussions to rejig the entry plans. Six years ago, Saks had booked space at DLF mall in Delhi as well as at UB City in Bangalore. That did not take off and India entry went to the back burner. Still awaiting FDI, Saks may route investment decisions through the Dubai partner which brought Damas stores to India in the past.

Thai retail and real estate major Central Group has been furiously at work to break into the Indian market. Central, a family-owned conglomerate , controls a big pie of Thailand's retail industry besides having interests in mall development and in hospitality business. It has had talks with Bharti Realty as it looked entering the country as a mall developer in the past. The group owns flagship department store chains under Central, Robinson and Zen brands but would prefer to come with FDI. As a prelude, Central wants to license its smaller formats in electronics retailing called PowerBuy and book store chain B2S.

Korean chaebol Lotte, which has significant shopping interests, may take the electronics retailing route to India. Lotte comes with the belief it could work with Korean brands Samsung and LG providing better value to the Indian customer. Australia's Myer is making moves through government trade channels to tap India's growth, and like that of El Corte Ingles, this move is still tentative and in early days.