Biotech companies worldwide reported a profit in 2009 for the first time since 1985 as revenues increased and spending on R&D was cut. A report published by Ernst and Young Global Ltd revealed that the industry had made a profit of $3.7 billion, compared with a loss of $1.8 billion in 2008 ... more
Biotech industry buoyant - but costs cutting must not hamper innovation
Biotech companies worldwide reported a profit in 2009 for the first time since 1985 as revenues increased and spending on R&D was cut. A report published by Ernst and Young Global Ltd revealed that the industry had made a profit of $3.7 billion, compared with a loss of $1.8 billion in 2008 in the U.S, Europe, Canada and Australia. At the same time, sixty percent of European firms reduced research costs and overall sales increased in the industry, driven primarily by a small number of large companies with well performing existing products.
Commenting on the report, EuropaBio Chairman Andrea Rappagliosi said “The data shows that even in these times of worldwide credit crunch the biotech industry is resilient and robust. Biotechnology will have a huge role to play in meeting Europe’s future goals for 2020 on Innovation, Employment and Skills, Competitiveness and the creation of a knowledge-based bio-economy. As an industry, we are working to grow in a smart way but this growth must also be sustainable. This is vital if we are to continue finding the innovative solutions that we need for patients, our environment and our energy and food needs.
EuropaBio’s Secretary General, Nathalie Moll added “In tough economic times the urge to cut costs is strong. Our biggest challenge for the coming years will be to ensure that the incentives to invest in biotech remain clear and strong.”
The report shows that smaller companies have been particularly hard hit as where cuts in capital have been made it is they, and not the larger companies, that are often the casualties.
Moll concluded “SMEs represent the engine that drives biotech innovation in the EU and we must help them to fulfill their potential. Biotech companies must be enabled, through the creation of a predictable, coherent and supportive regulatory environment, to continue finding solutions to some of society’s most important challenges. In this respect, we were encouraged by the Commission’s recent creation of an Innovation Committee and we hope that it will also address the challenges and opportunities for the biotech sectors in the future.”
EuropaBio welcomes the report issued by the Joint Research Centre that reconfirms the results of a 2001 Commission study concluding that no demonstration of any health effect of GM food products has ever been reported and the use of more precise technology and the greater regulatory scrutin ... more
EuropaBio, the European Association for Bio-Industries, welcomes the conclusions from the STACCATO workshop on Bio-Preparedness. Approximately 100 experts in the field of bio-safety and bio-security met with the European Commission DG Health and Consumer Protection and DG Justice, Freedom a ... more
- 1How Natural Channel Proteins Move in Artificial Membranes
- 2Merck’s Acquisition of Sigma-Aldrich Receives Clearance from EU Regulators
- 3Schleicher & Schuell has been purchased by Whatman plc
- 4New composite material as CO2 sensor
- 5Thousands of Droplets for Diagnostics
- 6Pall Corporation Acquires BioSMB Technology from Tarpon Biosystems
- 7'Green chemistry' to quantify the components of cosmetics
- 8Waters Corporation Announces Christopher J. O'Connell as Chief Executive Officer
- 9Eurofins signs an exclusive agreement to acquire the Biomnis Group
- 10LIMS/LIS Market and POCT Supplement
- analytica China 2016 increases exhibition area by over 16 percent
- Mettler-Toledo's TDL Analyzers Receive Award from Frost & Sullivan for Compe ...
- Healthcare is up for a Revolution with the Rise of Personal Genomic Tests
- The Waters ionKey/MS Technology Named a Top Innovation for 2014
- analytica China and CBB 2016 to hold together
- Biocartis and Fast-track diagnostics sign strategic collaboration in infectious diseases
- Belgian Start-up UgenTec Receives Funding from European Investors
- Bio-marker set forms the basis for new blood test to detect colorectal cancer
- MDxHealth's ConfirmMDx Genes Detect Clinically Significant Prostate Cancer
- Trinean to be awarded ISO 9001:2008 certification