Key success indicators in 2004 include:
- Biotech raises $16.9 billion in capital in the United States and 2.8 billion euro ($3.4 billion) in Europe, surpassing 2003.
- Successful companies drive investor optimism for the sector, with two biotech companies' valuations rivaling the world's sixth largest pharmaceutical company.
- The sector receives approval for 20 new biotech medicines in the U.S.and 9 in the E.U., compared to 18 and 6, respectively, during 2003.Factoring in new indications, the United States garners 36 approvals in 2004 compared to 35 in 2003.
- The late-stage product pipeline grows considerably in 2004, and the majority of new product approvals in 2005 will come from biotech companies.
- Global revenue increases by 17 percent, sustaining the growth achieved in 2003.
- Biotech hotbeds emerge in the Asia-Pacific region, particularly Japan,India, and China.
U.S. Biotech Comes of Age:
The remarkable surge of new biotechnology products that started in 2003 continued through 2004, demonstrating the strength of the sector's pipeline:
- Biotech companies market approximately 230 drugs, including 13therapeutic antibodies.
- Fifty-five New Drug Applications (NDA) await approval in the UnitedStates alone, including therapies for cancer, congestive heart failure,pain and diabetes.
- Medicines in Phase III clinical trials number 365, compared to 290 the previous year."
Product Success and Strong Financials Drive Biotech Industry's Maturation According to Ernst & Young's 2005 Global Biotechnology Report
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