BNET -- They say that nobody should start a company to make money. Here’s proof: for all the buzz about biotech, in 40 years (really, 42, since Genentech’s founding in 1976), the biotech industry as a whole never made a profit — until last year. Drawing on data from publicly-traded companies, Peter Winter, editor at the biotech merchant bank Burrill & Co., put together a report that found biotech as an industry made money in 2008, about $9.4 billion in net profits.
