Biotechnology Outpacing Pharmaceutical Growth
According to a latest report, the growth of the biotechnology company will continue to outpace that of pharmaceutical companies, with the seven largest biotechnology companies growing at rates faster than the pharmaceutical industry’s 9.1 per cent average. Wood Mackenzie’s 2004 Executive Guide states the leading biotechnology companies have evolved into integrated companies, retaining ownership of their developmental compounds and substantially growing their revenue streams in the process. Amgen is now ranked among the top 20 global pharmaceutical companies in the world and will break into the top 10 by 2008. In addition, the report notes that five of the 10 largest mergers and acquisitions in 2003 were within the biotechnology sector, indicating continued growth and maturity.