With the purchase of Biocon Limited’s enzyme activities, Novozymes has assumed a strong position in India’s rapidly growing enzyme market.
On October 1, 2007, Novozymes announced the successful purchase of Biocon Limited’s enzyme activities. Biocon is one of India’s leading biotech companies and specializes in bio-pharmaceutical products, contract research, clinical research and enzymes. Before the divestment of the enzyme activities, the company was the leading enzyme producer in India and had a good position on the global enzyme market in the juice and wine industries.
Novozymes market leader in India
The purchase of Biocon Limited’s enzyme activities is an important step for Novozymes in our efforts to increase sales in new markets. The Indian market has experienced strong growth in recent years, and although the use of enzymes is still at a relatively low level, interest in the benefits of using enzymatic solutions in India is intensifying – particularly due to the increasing affluence of the population. The Indian enzyme market is expected to grow by more than 15% annually over the next 10 years.
Biocon Limited’s enzyme activities represent a good strategic match for Novozymes’ existing enzyme business. The acquisition has given us a strong distribution network and good knowledge of the local market, which would have taken a long time to build from scratch. In India it is important to know your business associates, and trust and well-established customer relationships are vital. It is a major advantage for Novozymes that customers already know Biocon Limited’s employees.
With the purchase, Novozymes has also acquired better research facilities in India. This will make it easier for us to demonstrate our products to customers.
Biocon Limited’s enzyme activities are more than a strategic and business-related match for Novozymes’ business. Like Novozymes, Biocon Limited has a long-term tradition for
running a sustainable business and demonstrating corporate social responsibility. Also like Novozymes, Biocon Limited stands for a number of specific initiatives that benefit
employees and the local community, including:
India’s answer to Silicon Valley
Novozymes has had a presence in the Indian market for a long time. As far back as 1983, the first enzyme activities were established in Bangalore – the city also known as India’s Silicon Valley. Novozymes’ Indian headquarters is in the International Technology Park, but we have production and repackaging facilities at other locations in Bangalore.
With the 150 employees from Biocon, we now have about 200 employees in India. They work within research and development, sales, production, finance and IT.