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Kiran Mazumdar Shaw’s multi-billion dollar baby

Biocon Biologics’ valuation has raised eyebrows. But the parent has strong growth on its side and a track record of solid execution

Did you know in ancient Greece they detected ‘diabetes mellitus’ by tasting urine? Yes, tasting, not testing. Life was queasy then, at least for those working in diagnostic labs. Millenniums later, scientists discovered the condition developed from lack of insulin, and they began extracting the hormone from living organisms. First dogs, then cows and pigs, and in recent times, research labs moved towards synthetic human insulin with E. coli bacteria. That’s a biologic, a drug made from a living organism.