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The Europe Biotechnology Sectors : A Company and Industry Analysis (April 2007)
Mergent, April 2007, Pages: 36
This report looks at the biotech industries in Europe, with a focus on France, Germany, Netherlands, Sweden, Switzerland and the United Kingdom
Current Environment - Key Points
- The European biotech sector as a whole fared well over the past six months, fueled by good news and further M&A speculation
- Following the acquisition of Serono (SWX: SEO) by Merck (NYSE: MRK) in September 2006, Merck announced the official launch of Merck Serono (SWX: SEO) on January 8 this year
Merck Serono will operate as a biotech division within the pharmaceuticals business sector of Merck
- Deal-making continued at a torrid pace in Europe over the past six months, with a long line of pharma companies increasingly willing to pay a premium for a stake in a promising therapeutic program
- In December 2006, GlaxoSmithKline (NYSE: GSK) broke an industry record by licensing a drug for leukemia from Genmab (CSE: GEN) for US$2.1 billion
In the same month GSK announced a deal to acquire private drug discovery outfit Domantis for US$453 million
- Biotech IPOs in Europe showed signs of improvement
Nine European biotech companies listed between September 2006 and March this year
The total amount raised was US$446.8 million, according to a Mergent analysis
Industry Profile - Key Points
- A report released in May by Critical I, a biotech industry consultancy, demonstrates a number of consequences arising from an insufficient and unsustainable stream of finance for biotechnology
The report put the respective number of companies in Europe and the US at 2,163 and 1,991
However, American biotechs are larger, better financed and more profitable
- There have been several important developments in healthcare biotechnology in the past year
They include the implementation of the Advanced Therapies Regulations, the completion of the biosimilars framework and the setting up of the European Medicines Agency's (EMEA) dedicated office for SMEs
- The Seventh Research Framework Program (FP7) which was adopted in December 2006 and applies to the 2007-2013 period will provide a significant contribution to the competitiveness of the European bio-industry
- In November 2006, the European Commission (EC) published new state aid rules recognizing Young Innovative Company (YIC) status
- There have been some small but encouraging signs of progress in the acceptance of green biotechnology in Europe
Five European countries grew genetically modified crops in 2006, with member states starting to adopt reasonable rules on co-existence
Market Trends and Outlook - Key Points
- The development of regenerative drugs for diseases such as cancer can be enhanced by using robotics to automate stem cell research
- Industrial biotech is gaining growing priority in Europe
The European Commission has introduced initiatives to promote the development of biorefineries in Europe
This was followed on December 14, 2006, with the publication by the European biotech industry of a new Industrial Biotechnology Policy Agenda for Europe
- European farmers are lagging behind the rest of the world in terms of access to agribiotech, according to the European Federation of Biotechnology
According to the International Service for the Acquisition of Agri-biotech Applications (ISAAA), most growth in biotech over the next ten years is expected to occur in key developing countries in Asia, led by China and India, as well as Pakistan and Vietnam
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