Biotechnology - continued
Biotechnology’s Strong Growth
• Global revenues of biotech companies grew to nearly $74 billion last year – up 14% from 2005 and making 2006 the industry’s highest-grossing year to date.
• The biotechnology industry in the U.S. has grown from $8 billion in revenues in 1992 to over $51 billion today.
• The total value of all publicly-traded biotech companies in the U.S. is over $410 billion.
• Biotech growth in 2006 was particularly strong in Europe (14%), marking the fourth year of a dramatic turnaround from 2003, when the industry recorded a 12% decline.
• Corporate partnering has been critical to biotech success. In 2005, biotech companies signed 564 new agreements with pharmaceutical firms and 354 with fellow biotechs. Most industry analysts expect the trend of partnering to continue in the years ahead.
ICON’s perspective on Biotechnology
As one of the worlds leading clinical research organizations, ICON is a frequent partner to biopharma companies. Recently, three ICON executives, Alan Morgan, president of ICON Clinical Research Europe, Lincoln Bynum, M.D., vice president of clinical research and development, and Sandra Nino, Pharm.D., director of regulatory affairs shared their experience and insight on the state of the industry today, and what the future may hold.