Bangalore, January 18, 2007

HIGHLIGHTS
Biocon announced today that it has granted an exclusive license to Ferozsons Laboratories Limited for marketing BIOMAb EGFR in Pakistan. The successful debut made by BIOMAb EGFR in the Indian market since mid-September, 2006, has evinced strong licensing interest for the proprietary cancer drug in the region. Biocon's decision to select Ferozsons Laboratories Limited as its exclusive licensee in Pakistan was based on the leadership position that the company enjoys in Oncology. IMS data ranks Ferozsons as the No:1 national Oncology company in Pakistan.

The Pakistan oncology market is valued at approximately $70 Million. Monoclonal Antibodies represent the fastest growing category of therapeutics with a CAGR of 30%.

BIOMAb EGFR is indicated for Head and Neck cancer and is being studied in global clinical trials for Colorectal, Lung Cancer, Glioma and Pancreatic cancers. There are more than 25,000 new cases of Head and Neck cancer reported per year in Pakistan, according to Globocan, which mirrors the incidence of this segment in India.

Commenting on the licensing agreement, Mr. Osman Khalid Waheed, President Ferozsons Laboratories Limited said "We view this agreement with Biocon as an important milestone towards achieving our vision of becoming a complete provider in the field of cancer treatment. Monoclonal antibodies are emerging as the most important new class of drugs in cancer therapy. With this alliance, we are confident that we will make a substantial contribution to the treatment of head and neck and other cancers in Pakistan by providing cutting-edge, targeted therapy at an affordable treatment cost for the patients of Pakistan."

Dr. Kiran Mazumdar-Shaw, Chairman and Managing Director of Biocon Limited said that "Biocon is pleased to partner with Ferozsons for BIOMAb EGFR for the Pakistan market and heralds our efforts in extending the benefit of this "best in class cancer drug" in the SAARC region. We believe that together we will strive to bring new treatment paradigms in cancer care in both Pakistan and India in an affordable way."

About Biocon
Established in 1978, Biocon Limited is one of India's premier biotechnology companies. The company has a robust product portfolio of recombinant biotherapeutics, statins and immunosuppresants with strongly growing sales and profits. We employ more than 600 highly qualified scientists at our campus in Bangalore. Biocon and its three subsidiary companies, Syngene International Ltd and Clinigene International Ltd and Biocon Biopharmaceuticals Pvt Ltd form a fully integrated biopharmaceutical company, specializing in custom research, clinical research, biopharmaceuticals and enzymes. With successful initiatives in clinical development, bioprocessing and global marketing, Biocon delivers products and solutions to partners and customers across 50 countries. Many of these products have USFDA and EMEA acceptance. Biocon launched world's first human recombinant human insulin, INSUGEN in November 2004 using Pichia expression.

About Ferozsons
Established in 1956, Ferozsons Laboratories Limited (www.ferozsons-labs.com) is one of the leading national pharmaceutical companies in Pakistan. The Company was listed on the Karachi Stock Exchange (KSE) in 1960, and is a current 4th time recipient of the KSE Top 25 Companies award. Ferozsons is ranked by IMS as the number one national company in the field of oncology and transplantation. The Company employs 450 people, and has recently established a subsidiary - BF Biosciences Limited - under joint venture with Argentina's Bago group for the manufacture of biotech drugs for the treatment of Cancer and Hepatitis C. The biotech facility, currently under construction in Lahore, will comply with USFDA and EMEA standards and is expected to come into production before the close of the current year.