Over the Line: As the biotechnology industry outpaces traditional pharmaceuticals, the biotechnology leaders are taking top spots from big pharma peers. At the other end, small, emerging biotechnology companies struggle to find funding among risk-averse investors. As biotechnology companies merge and grow, they are rising in the ranks of the top companies overall. Traditional pharmaceutical companies, meanwhile, are partnering with the biotechnology sector to fill dry pipelines and to replace the dwindling blockbusters. Industry analysts believe that the growth of the biotechnology industry, led by Amgen Inc. and Genentech Inc., will continue to outpace that of pharmaceutical companies. According to Wood Mackenzie analysts, the seven largest biotechnology companies are growing at rates faster than the pharmaceutical industry’s 9.1% average. Amgen is now ranked among the top 20 global pharmaceutical companies in the world and will break into the top 10 by 2008, Wood Mackenzie analysts say. In addition, five of the 10 largest mergers and acquisitions in 2003 were within the biotechnology sector, indicating continued growth and maturity. More...
