Biotech Investment Boosted February 4th, 2007
The biotechnology industry is solidifying as a stable, steady financial investment field marked by more than a decade of growth, according to industry experts.
Coupled with dozens of new product deliveries in 2005, biotechnology industry executives say investors are recognizing the laboratory largess in the field.
“Investors have recognized the industry’s value, and in the last six years as the industry has matured, biotech and biopharmaceutical firms have raised more than $120 billion in financing, the majority of which is used for the purposes of research and development,” said Jim Greenwood, president and CEO of the Biotechnology Industry Organization.
“Ongoing favorable investor response has fueled the industry’s innovative technology that has moved an idea or vision from the laboratory to the market,” he said.
According to BIO, biotech firms raised roughly $20.1 billion in public and private financing in 2005 and succeeded in securing FDA approval on 38 new biotech and biotech-related products, expanded labels and other therapies.
Along with a financial investment boast from the private sector, the industry will see significant growth thanks to nearly $1 billion in funding for bioenergy products and R&D through the Energy Policy Act, signed by President Bush in August.
“The act will encourage the production of domestic sources of energy and reduce America's dependence on foreign oil,” Greenwood said.
Career Corner Article Series
Career Corner Articles Home
Management Matters Article Series
Management Matters Articles Home
Industry Trend Article Series
Industry Trend Articles Home