Ernst & Young has issued a report on the global biotechnology industry that provides a strategic review of the industry's growth, and the new products it is introducing into the marketplace. The report was released Tuesday at the BIO 2005 conference
The comprehensive report recaps Ernst & Young's 19-year history of tracking the biotechnology field, and includes data and analysis of the industry in the Americas, Europe and the Asia-Pacific region.
New products began to flow into the world's largest market -- the U.S. -- in 2003 and the surge continued through 2004. With a pipeline of products in Phase III clinical trials or awaiting regulatory approvals that flow is expected to continue, according to the report.
However, the report questions whether increased attention from regulatory agencies on safety issues will affect profitability in the future.
The report also notes that the industry is challenged by disappointing evaluations for initial public offerings of stock, and that early-stage companies are struggling to find the capital they need to prosper.
The full report, a video of Ernst & Young's presentation at BIO 2005 and a transcript of the video can be found at the accounting firm's Internet page.
