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The Europe Biotechnology Sectors : A Company and Industry Analysis (April 2006)
Mergent, April 2006, Pages: 40
This report looks at the biotech industries across European countries, with a focus on France, Germany, Netherlands, Sweden, Switzerland and the United Kingdom
Current Environment - Key Points
- In February 2006, the World Trade Organization (WTO) ruled that the EU's moratorium on genetically modified (GM) products, effective between June 1999 and August 2003, was illegal
Meanwhile, the EC struggled to enforce orders to some EU countries to lift national bans on GM products
- Market conditions were favorable for biotech stocks in Europe over the past six months but success was still very much on a case-by-case basis
Shares of biotech companies surged on news of consolidation and significant product milestones
- Major players in the industry recorded improved financials in 2005
Increasing worldwide demand for biotech products substantially boosted revenues
Continued consolidation in the sector added strength to European biotechs, enabling them to compete better internationally
- The period following the Initial Public Offerings (IPOs) for European biotechs proved favorable
There were 21 European biotech IPOs in 2005 compared with 17 in the US, according to UK venture capital (VC) group, Abingworth
Industry Profile - Key Points
- A recent comparative study by UK-based life sciences consultant, Critical I, showed that there are currently 1,980 biotech companies in Europe against 1,830 in the US
However, although US companies raise three to four times the amount of venture capital and spend triple the amount on research and development (R&D), they only generate about twice as much revenue as their European counterparts
- On September 22, 2005, EuropaBio, the European bioindustries association, launched a Healthcare Manifesto which calls for EU policy support for innovative healthcare (innovative medicines, orphan drugs, such as those developed to treat rare diseases, advanced therapies)
- White biotech (industrial biotech) is set to have a significant impact on the European chemical industry, with the EC driving the adoption of a new chemical law for the Registration, Evaluation and Authorization of Chemicals (REACH) to ensure greater safety in the manufacture and use of chemical substances
Final adoption of the proposal is expected by the end of 2006
Market Trends and Outlook - Key Points
- Globally, 90 million hectares was planted with biotech crops in 2005, an increase of 11% from 2004, according to the International Service for Acquisition of Agri-Biotech Applications (ISAAA)
- In November 2005, the European chemical industry unveiled a new research agenda for the next two decades which focuses on white biotech as one of the three main areas for future research and technology developments
To increase sustainability and competitiveness, multinational chemical specialist companies in Europe are already beginning to apply biotech processes, particularly in the area of biocatalysis
- France adopted the Young Innovative Company (YIC) scheme in 2004, with Belgium scheduled to follow suit in mid-2006
The scheme provides tax exemption for small companies in their early years
Biotech associations from Sweden, Finland, Norway and Estonia, have joined an initiative to encourage their respective countries to adopt the scheme
- The outlook for the European biotech industry is bright, with biotech continuing to be bolstered by higher resources and investment, improved access to finance and a more efficient regulatory environment
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