German Biotech Sector Has Turned The Corner
Germany's biotechnology sector is now moving forward again after two difficult years and the mood is more upbeat with more biotech firms expecting to turn profits, a top industry official said. Peter Stadler, head of the German Biotechnology Industry Federatino DIB in Frankfurt, said the sector in 2004 is expecting revenues of around EUR one billion. Last year turnover dropped 5 percent to EUR 960 million. He said the number of biotech firms now showing a profit was growing, new products and technologies were ripe for the market and there would be more company stock launches in the foreseeable future. In July, the launch of the Berlin company Epigenomics was the first biotech company stock listing in three and one-half years.