Biotechnology news from around the world.
Australian biotechnology industry booming
7 April – Ernst & Young (EY) have reported that that the revenue of publicly-traded biotechnology companies has surpassed $60 billion for the first time. The strong performance is evidenced by virtually every performance indicator with revenue, product approvals and industry-wide capital raising all increasing. Big pharma, through a spate of large acquisitions, have been a major contributor to the industry's performance. Whilst the United States (US) and European markets have reported strong results, the Asia-Pacific demonstrated best results, reporting a 46 percent increase in revenues. This growth has been propelled largely by the Australian biotechnology sector which has managed to reach profitability ahead of the US and Europe.
[Source: Ernst & Young]
14 April – Former U.S. President Bill Clinton, an ethanol-fuelled race car and the world's largest indoor cornfield boosted attendance at BIO 2006 to a record 19,479 attendees from 62 countries. The 14th Annual International Convention of the Biotechnology Industry Organization (BIO) closed on Wednesday in Chicago, capping a week of business meetings, educational sessions and networking opportunities with luminaries from the disparate worlds of science, health, politics, and business. 'BIO 2006 was a spectacular success. The convergence of health, food and agriculture, and industrial and environmental biotechnology created a fantastic opportunity for the biotech industry to show the many ways it is innovating to cure and prevent disease, alleviate hunger, and improve the environment,' said Jim Greenwood, BIO's President and CEO. A record-breaking number of business leaders met, negotiated and exchanged ideas this year in the business forum. More than 4,260 people representing 1,476 companies entered the doors of the business forum and participated in a record 11,018 meetings. The exhibit hall at BIO 2006 was the largest gathering of biotechnology exhibitors in history, encompassing more than 1,700 companies, organisations, and institutions representing every aspect of the biotechnology industry. Next year the BIO International Convention will be held in Boston May 6-9, 2007 with the theme of 'Science Converges. Business Emerges.'