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Funding Pressure may Force Biotechnology Industry to "Reshape" R&D



6/15/2011 8:22:38 AM

Scarce funding for early-stage biotechnology companies that have yet to bring products to market is straining research budgets, even as overall capital raised by the industry increased, according to a report. The top 20 percent of U.S. biotechnology companies raising money garnered 82.6 percent of funding in 2010, while the bottom 20 percent drew 0.4 percent, according to a report released today by London-based consulting firm Ernst & Young. Of the more than 270 publicly traded biotechs in the U.S., only about 40 -- such as Amgen Inc. (AMGN), Gilead Sciences Inc. and Biogen Idec Inc. (BIIB) -- are profitable, Bloomberg data show.

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