Biotech's "Fantastic Future Ahead"

Some bold predictions on what's coming for the industry from Ernst & Young's Scott Morrison. On June 1, financial-services provider Ernst & Young released its 19th annual report on the biotechnology industry. The firm is so optimistic about biotech's future it declares that in the U.S., the sector is "coming of age." Scott Morrison, director of Ernst & Young's U.S. Life Sciences practice talked about the report recently with BusinessWeek science reporter Arlene Weintraub. Following are edited excerpts from their conversation: