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The Europe Biotechnology Sectors : A Company and Industry Analysis (April 2004)
Mergent, April 2004, Pages: 36
Current Environment - Key Points
- A challenging economic climate has contributed to a global decline in investments and a cut in bioscience funding, placing financial pressure on Europe's biotech industry
- The biotech industry is also struggling with resistance to the use of genetically modified organisms (GMOs), in particular bio-crops
- There is healthy growth in the number of life sciences publications in four main areas: clinical medicine, basic life sciences, biomedical and biological sciences
- There is growth in the collaboration between biotech companies and pharmaceuticals
- Several areas of biotech research are being particularly targeted in the next few years: genomics and biotech for health, nanotechnology, and food quality and safety
- As investors turn away from the industry's uncertain returns, biotech companies are using mergers and acquisitions to generate cash and ensure survival and growth
- In 2002, there were only three European biotech IPOs, which raised a total of US$34.7 million (-28.45 million) - a far cry from the 2000 regional record of US$2.2 billion (-1.80 billion)
Industry Profile - Key Points
- European nations hurrying to establish home-grown biotech industries are facing challenges in obtaining venture capital, conservative attitudes towards risk and negative public opinion (particularly in the agricultural biotech field)
- The UK, Germany, France, Switzerland, the Netherlands and Scandinavian countries are leading the biotech revolution across Europe
- By mid-2003, the number of companies in the life sciences industry had grown almost four-fold to more than 1,500
- The European biotech field is focused on three emerging areas: green biotech, white biotech and healthcare biotech
- Europe spent nearly 2% of its GDP on R&D between 2000 and 2002, with the highest ratios in Sweden and Finland
- Europe's venture capital investment fell 45% to about -5.4 billion (US$6.59 billion) in 2002
- Effective April 2004, new regulations on GMOs will apply for food and feed marketed in the European Union
They cover three key areas: the authorization of GM food and feed, their labeling and the traceability of products
Market Trends and Outlook - Key Points
- The economic recession over the past two years has driven collaboration among European biotechs (and their global counterparts)
- The region is facing a shortage of researchers and experts in the field, due to many of Europe's best brains opting for better employment opportunities in North America
- Rising US-Europe trade tensions surrounding the 1998 biotech crop ban by the EU is highlighting the weakness of globalization in the industry
- The emerging nanotechnology is expected to become one of the revolutionary key research areas of the 21st century for European biotech
- With governments and industry collaborating closely, the sector seems to maintain its prominent position in this industry, and could be set to go head-to-head with its most formidable counterpart - the United States
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