Biocon Brazil
Background
Biocon India is an Indian biopharmaceutical company based in Bangalore, India. The Company manufactures generic active pharmaceutical ingredients (APIs) that are sold in the developed markets of the United States and Europe. It also manufactures biosimilar insulins, which are sold in India as branded formulations and in both bulk and formulation forms.Â
With the dynamics of the pharma world shifting, emerging markets —the 17 high-growth pharmaceutical markets, particularly Brazil— present an important opportunity for biotechnology firms. Biocon has entered into partnerships with companies around the world to gain access in emerging markets
Challenge
The Biocon value proposition, built around differentiation and scale, has enabled the company to seek global leadership to provide access to affordable biopharmaceuticals for patients, partners and healthcare systems across the globe. Biocon’s main goal is, over the next 10 years, to provide its insulin products to diabetes patients in need of insulin-based therapy anywhere in the world. To achieve this, the challenge was to expand operation in to the Brazilian market, raise brand awareness and generate a new revenue streamÂ
Solution
The ideal approach for early stage expansion of Biocon was through partnerships with local Brazilian companies, and after opening their Brazilian branch to have a Country Manager on the ground. Establish Brazil assisted Biocon with all compliance related issue, from middle and back-office support with the local legal entity - including accounting, finance and payroll management.
Result
Biocon has a fully functioning, local Brazilian branch with staff and operations on the ground,  Emerging markets (including Brazil) contribute to about 40% of Biocon’s sales.Â