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The Europe Biotechnology Sectors : A Company and Industry Analysis (October 2004)
Mergent, Oct 2004, Pages: 40
This report looks at the biotechnology sectors in the European markets of France, Germany, The Netherlands, Sweden, Switzerland and the United Kingdom
Current Environment - Key Points
- There is an increasing gap between large and small biotech companies, primarily due to insufficient backing from venture capitalists to struggling, privately-financed firms
- Nevertheless, industry experts believe that the European Union's (EU) new member states could strengthen Europe's position in the biotech sector and the overall life sciences industry
- Many large pharmaceutical companies are collaborating with biotechs to exploit their drug- development capabilities
In return, pharmaceutical companies are offering biotechs funding, manufacturing and marketing services, and securing regulatory approval for products in development
- After a four-year financial drought, the European biotech industry is experiencing an investment upturn, which began in 2003
Since March, four biotech companies have posted initial public offerings (IPOs) - raising a combined US$345.3 million
Industry Profile - Key Points
- Although Europe has a strong, world-class biotech science base, the sector still lags in the number of commercial, scientific advances
- A fragmented market, coupled with pressure to lower manufacturing and R&D costs, and a climate that does not encourage or reward innovation, is also hindering the sector
- A lack of funding and investor confidence has forced companies to cut costs and research
Revenues for the European biotech industry fell 12% to about -11.3 billion (US$13.62 billion) in 2003
- Germany, the UK, France, Switzerland, the Netherlands and Scandinavian nations, especially Sweden, continue to be Europe's s biotech leaders
- The number of biotech companies in the major European countries has fallen from 1,340 in 2002 to 1,305 in 2003
- During the second quarter of 2004, investment in biotech and healthcare reached -482 million (US$580.91 million) in 56 deals, which was the second highest funding level ever seen since the same quarter in 2001
- On June 16, the European Commission (EC) outlined the main priorities for the upcoming 7th Research Framework Program (FP7), reaffirming the commitment to collaborative research in knowledge areas such as biotech
- On March 3, the EU adopted new health and safety standards for the donation, storage and use of human cells and tissues across the region
The EU now has comprehensive and binding requirements on the safety and quality of cells and tissues from donor to patient
Market Trends and Outlook - Key Points
- India is becoming a biotech hub for Europe's industry players
More and more European (and US) biotechs are moving their clinical trials and R&D activities to India
Also, leading Indian biotechnology companies are collaborating with partners across Europe
- Industrial biotech (also known as white biotech) looks set to spearhead the next revolution in manufacturing industries across the globe
It has been called the -third wave- of biotech after medicine and agriculture
- Europe is facing serious brain drain
Each year, more than 70% of Europeans who study in the US opt to stay
Consequently, about 40% of scientists working in the US are Europeans and some life sciences companies are moving their research operations overseas
- While Europe lags behind in agricultural biotech, it leads in areas such as genomics and stem cell research, thanks to a boost in support from regional and national policies
- While the biotech boom of 2000 was fueled by interest in genomics and platform technologies, experts say in the future biotech companies will focus more on innovative products
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