Woman EntrepreneurKiran Mazumdar-Shaw

Biocon Limited .

INTRODUCTION

Kiran Mazumdar-Shaw (born 23 March 1953) is an Indian entrepreneur. She is the chairman and managing director of BioconLimited, a biotechnology company based in Bangalore (Bengaluru), India and the current chairperson of IIM-Bangalore. In 2014, she was awarded the Othmer Gold Medal, for outstanding contributions to the progress of science and chemistry. She is on the Financial Times’ top 50 women in business list. As of 2014, she is listed as the 92nd most powerful woman in the world byForbes.

Kiran Mazumdar was born to Gujarati parents in Bangalore, India. She went to school at Bangalore’s Bishop Cotton Girl's High School, graduating in 1968. She then attended Mount Carmel College, Bangalore, a women's college offering pre-university courses as an affiliate of Bangalore University. She studied biology and zoology, graduating from Bangalore University with a B.Sc. in Zoology in 1973. Mazumdar hoped to go to medical school, but did not obtain a scholarship.Her father, Rasendra Mazumdar, was the head brewmaster at United Breweries. He suggested that Kiran study fermentation science, and train to be a brewmaster, a very nontraditional field for a woman. Mazumdar went to Federation University in Australia to study Malting and Brewing. In 1974 she was the only woman enrolled in the brewing course, and the top of her class. She earned the degree of Master Brewer in 1975. She worked as a trainee brewer in Carlton and United Breweries, Melbourne and as a trainee maltster at Barrett Brothers and Burston, Australia. She also worked for some time as a technical consultant at Jupiter Breweries Limited, Calcutta and as a technical manager at Standard Maltings Corporation, Baroda between 1975 and 1977. However, when she investigated the possibility of further work in Bangalore or Delhi, she was told that she would not be hired as a master brewer in India because "It's a man's work." She began to look abroad, and was offered a position in Scotland.

PROFILE OF THE COMPANY

Biocon Limited (BSE: 532523) 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. In research services, Syngene International Limited (Syngene) is engaged in the business of custom research in drug discovery while the other fully owned subsidiary Clinigene International Limited (Clinigene) is in the clinical development space. In December 2009, Biocon acquired the Active Pharma Ingredients (API) undertaking from IDL Speciality Chemicals Ltd., a subsidiary of Gulf Oil Corporation Limited.

Located with R & D in Bangalore and API unit in Hyderabad, India, Biocon has two subsidiaries — Syngene, a custom research organisation, and Clinigene, a clinical research organisation. Biocon’s presence straddles four main therapeutic areas —Diabetology, Cardiology, Nephrology and Oncology — and plans to introduce two new divisions, Comprehensive Care, and Immunotherapy, this year.

Biocon’s cardiology, nephrology, diabetology and oncology products including BESTOR, BASALOGTM, BioMAb EGFR, STATIX, NUFIL safe, INSUGEN, TACROGRAF, ERYPRO safe, and MYOKINASE are claimed to be considerably less expensive than other leading brands. Two of its novel programs on the verge of proof-of-concept stage are IN-105, which is the only oral insulin in the world to be in long duration clinical trials, and the T1h, a novel humanised monoclonal antibody (MAb), the only first-in-class novel MAb being tested in India for rheumatoid arthritis and psoriasis.

Between 2005 and 2010, Biocon entered into more than 2,200 high-value R&D licensing and other deals within the pharmaceuticals and bio-pharmaceutical space. It has also expanded its global footprint to emerging and developed markets through acquisitions, partnerships and in-licensing. Biocon’s Corporate Social Responsibility wing, the Biocon Foundation, is involved in numerous health and education outreach programs targeting the underprivileged sections of India.

In 2009–10, Biocon’s net income increased 44% to  24,048 million, crossing the half-billion-dollar mark and profits grew 215% to  2,933 million. The pharmaceutical business exceeded  200,871 million in

revenue and the net R&D expenditure increased to  917 million, growing 42% over 2008 and up 282% over 2005, while its research services business crossed  2,807 million.

Biocon, Syngene and Clinigene together employ approximately 4,500 personnel including biologists, chemists, medical practitioners, pharmacologists, engineers, finance/legal/marketing analysts, HR generalists and general administrators. Around 6% of its employees have PhD degrees, 45% have a master’s degree, and 33% are graduates. Biocon also collaborates with educational institutes to make courses more industry oriented.

CONTRIBUTION TOWARDS THE UPLIFTING OF THE COMPANY

Biocon Biochemicals of Ireland was acquired from Leslie Auchincloss by Unilever in 1989. The partnership with Unilever helped Biocon to establish global best practises and quality systems. In 1997, Unilever sold its specialty chemicals division, including Biocon, to Imperial Chemical Industries (ICI). In 1998, Kiran Mazumdar's fiancée, Scotsman John Shaw, personally raised $2 million to purchase the outstanding Biocon shares from ICI. The couple married in 1998, whereupon she became known as Kiran Mazumdar-Shaw. John Shaw left his position as chairman at Madura Coats to join Biocon. He became Biocon’s vice chairman in 2001. In 2004, after seeking the advice of Narayana Murthy, Kiran Mazumdar-Shaw decided to list Biocon on the stock market. Her intent was to raise capital to further develop Biocon's research programs. Biocon was the first biotechnology company in India to issue an IPO. Biocon's IPO was oversubscribed 33 times and its first day at the bourses closed with a market value of $1.11 billion, making Biocon only the second Indian company to cross the $1-billion mark on the first day of listing.

CONTRIBUTION TOWARDS EMPLOYMENT AND THE ECONOMY.

In 2004, Kiran Mazumdar-Shaw started a corporate social responsibility wing at Biocon, the Biocon Foundation. The Foundation focuses on the areas of health, education and infrastructure, especially in rural areas of Karnataka which lack healthcare facilities. Mazumdar-Shaw dislikes the term "philanthropy", believing that it often provides temporary fixes rather than changing underlying conditions. She prefers the term "compassionate capitalist", believing that properly applied business models can provide an ongoing foundation for sustainable social progress. "Innovation and commerce are as powerful tools for creating social progress as they are for driving technological advancement... when they are put to use for social progress, the implementation is a lot cheaper, a lot more people benefit, and the effect is more lasting."

HealthIndia does not have organized health care programs such as socialised medicine or government-backed health insurance. Rural areas may have only one doctor for every two thousand people: it is estimated that 70 million people do not have the money to pay for a doctor's visit or for medicine. The Biocon Foundation is involved in numerous health and education outreach programs to benefit the economically weaker sections of Indian society.

Arogya Raksha YojanaWith Dr. Devi Shetty of Narayana Hrudayalaya Hospital, Mazumdar-Shaw has supported the development of Arogya Raksha Yojana (Disease Protection Program/Health Help). Through this program Biocon Foundation establishes clinics to offer clinical care, generic medicines and basic tests for those who cannot afford them. As of 2010, seven clinics each served a population of 50,000 patients living within a radius of 10 km, treating in total more than 300,000 people per year. Clinics organize regular general health checks in remote villages by bringing in physicians and doctors from network hospitals. To improve early detection of cancer, they have trained young women as community health workers, using smart phones to send photographs of suspicious lesions to oncologists at the cancer center. Public health campaigns such as "Queen of Heart" educate people about specific health issues and promote early detection of problems such as cardiovascular disease. The clinics operate on a model of micro-financed health insurance. Biocon provides low-cost drugs, making a negligible profit on a unit basis, but an overall profit on volume due to the participation of large numbers of people. Clinics also use a "subsidised convenience" pricing plan, under which more wealthy patrons pay full price in return for the convenience of scheduling their visits and procedures at desirable times, while poorer patients can obtain cheap or even free services by choosing less desirable times. Doctors and researchers look for opportunities to use cutting-edge technology in ways that will drive down costs and ensure quality of service.

Mazumdar-Shaw Cancer CenterThe death of her best friend, Nilima Rovshen, and the illnesses of her husband and her mother from cancer, have motivated Kiran Mazumdar-

Shaw to strongly support cancer research and treatment. In 2009, she established a 1,400-bed cancer care center, the Mazumdar-Shaw Cancer Center, at the Narayana Health City campus in Bangalore, collaborating with Dr. Devi Shetty of Narayana Hrudayalaya. In 2011, she added a center for advanced therapeutics with a bone marrow transplant unit and a research center. Her goal is to create a world-class cancer center.

EducationIn collaboration with collaboration with Mcmillan India Limited and teacher Prathima Rao, Mazumdar-Shaw has supported development and use of a basic mathematics textbook, introduced in Kannada schools in 2006. She funded a multi-year research program by creating the Biocon Cell for Innovation Management with Dr. Prasad Kaipa at the Indian School of Business in 2009.

InfrastructureMazumdar-Shaw speaks openly about the importance of improving India's infrastructure, emphasizing the need to address issues such as efficient governance, job creation, and food, water, and health insecurity. In Bangalore itself, Biocon, Infosys and other companies have had a significant impact on the city. These companies attract many scientists who would otherwise go overseas. Once a "pensioner's paradise", Bangalore is now called "the best urban working environment in India". Biocon Park, built in 2005 not far from Mazumdar-Shaw's original office, is a ninety-acre campus with five thousand employees. Outside the developed areas, however, there is still severe poverty. Mazumdar-Shaw is an energetic proponent of good government and infrastructure. She supported the Bangalore Agenda Task Force, an initiative of S. M. Krishna and Nandan Nilekani to improve the city's infrastructure and standard of living. Mazumdar-Shaw is part of the Bangalore City Connect Foundation, a non-profit trust for discussion of civic issues, involving both urban stakeholders and the government. Mazumdar-Shaw is actively engaged in urban reform, partnering with Jana Urban Space Foundation and local government to improve roads. She is also involved in the Bangalore Political Action Committee (BPAC), which reviews and recommends candidates running in elections.

After the 2009 flood, Biocon, Infosys and Wipro all committed to rebuilding homes for flood victims in north Karnataka. Biocon committed to building 3,000 houses at a cost of Rs 30 crore.

AWARDS & RECOGNITIONSMazumdar-Shaw is the recipient of several prestigious international awards including the Othmer Gold Medal (2014) for outstanding contributions to the progress of science and chemistry, the Nikkei Asia Prize (2009) for Regional Growth, the ‘Veuve Clicquot Initiative For Economic Development For Asia' Award (2007), Ernst & Young Entrepreneur of the Year Award for Life Sciences & Healthcare (2002), and 'Technology Pioneer' recognition by World Economic Forum (2002). On 05/05/2015 Federation University Australia (Formerly known as University of Ballarat) named a road in Mt Helen campus as Mazumdar Drive. Kiran and Shaw together attended the opening function and cut the rippon. Her pioneering work in the biotechnology sector has earned her numerous national awards, including the prestigious Padma Shri (1989) and the Padma Bhushan (2005) from the government of India. She was given the Economic Times Award for 'Businesswoman of the Year' in 2004. At the Pharmaleaders Pharmaceutical Leadership Summit she was named "Global Indian Woman of the Year" (2012); she also received the Express Pharmaceutical Leadership Summit Award for "Dynamic Entrepreneur" in 2009. The Indian Merchants' Chamber Diamond Jubilee Endowment Trust's Eminent Businessperson of the Year Award was presented to Kiran Mazumdar-Shaw in 2006 by the Governor of Maharashtra, S. M. Krishna. She also has received the Indian Chamber of Commerce Lifetime Achievement Award (2005), the 'Corporate Leadership Award' by the American India Foundation (2005), and theKarnataka Rajyotsava Award (2002).

CONCLUSIONKiran Mazumdar-Shaw's pioneering efforts in biotechnology have drawn global recognition both for Indian Industry and Biocon. Her unique vision has steered Biocon's transition from an industrial enzymes company to an integrated biopharmaceutical company with strategic research initiatives. Biocon is today recognized as India's pioneering biotech enterprise. 

She chairs Karnataka's Vision Group on Biotechnology and also served on the Board of Science Foundation, Ireland. She presently serves on the Advisory Council of the Government's Department of Biotechnology where she has been instrumental in bringing government, industry and academia together, to chart a clear and progressive growth path for Biotechnology in India. Ms. Shaw is also a Board member of BVGH (Bio-Ventures for Global Health). Most recently, she has been invited to join the Prime Minister's Council on Trade & Industry in India and the US-India CEO Forum.

Ms. Shaw is the recipient of several prestigious awards including the ET Businesswoman of the Year, Best Woman Entrepreneur, Model Employer, Ernst & Young's Entrepreneur of the Year Award for Life Sciences & Healthcare, Leading Exporter, Outstanding Citizen, Technology Pioneer, etc. Her most cherished awards are however, the national awards, PADMASHRI (1989) and PADMA BHUSHAN (2005) presented to her by the President of India, for her pioneering efforts in Industrial Biotechnology. 

A successful technocrat of global standing, Ms. Shaw is highly respected in the corporate world. She is a much sought after biotech pioneer who has been referred to as "India's Biotech Queen" by The Economist and "India's mother of invention" by New York Times. She was conferred the Wharton- Infosys Business Transformation Award in 2006 for spearheading the Biotechnology sector in India. Nature Biotechnology has recently voted her the most influential Bio-business personality outside Europe and USA.

Ms. Shaw received a graduate honors degree in Zoology from Bangalore University (1973) and qualified as a Master Brewer from Ballarat University, Australia (1975). Ms Shaw also received an honorary Doctorate of Science, from her alma mater, Ballarat University, in recognition of her pre-eminent contributions to the field of Biotechnology.

She is married to John Shaw, a Scotsman and Indophile, who headed a leading textiles MNC, Madura Coats from 1991-1998 as Chairman and Managing Director. John Shaw has since joined Biocon as Director, International Business and is the Vice Chairman of the Board.