Biotechnology Industry Growth Forecast for 2007

The Ernst & Young 2007 Global Biotechnology Report has been released and paints a very favorable picture of unprecedented financing totals and deal activity that indicates a continuation of the strong growth trend that appeared in the 2006 report. According to a press release by E & Y, nearly all performance indicators used indicated “robust growth in 2006”, in many parts of the world. These criteria included deal values, capital raised, public company revenues, reduced net loses, and more product approvals than in 2005. Among the stats, the global increase in capital raised was reported to be 42% and double-digit increases in revenues were reported in Canada, the USA and Europe.

According to the report, the outlook for the biotechnology industry in 2007 is exceptionally good. This also translates into excellent prospects for jobs in biotechnology, in the near future, with a huge majority of the 400 biotechnology companies surveyed reporting that they plan to hire within the next two years.

_Sources:

Earst & Young. 2007. Global Biotechnology Makes Historic Advances. Press Release London & Boston, 16 April 2007.