Indian biotech sector growth slows

The Indian biotechnology sector achieved revenue of $2.5 billion in the 2007-08 fiscal year, a rise of 20% over the same year-earlier period. However, the sector trade body, the Association of Biotechnology-Led Enterprises said that growth was lower than the 30% recorded over the previous five years. The biopharmaceutical segment of the industry also had relatively slow growth - about 16% - in the reporting year though it accounted for two-thirds of the biotechnology sector's total revenue. The ABLE said the biopharmaceutical industry is expected to put on good growth over the next five years.