BOSTON – The global biotechnology industry reached record levels in financing and deal making in 2007, with more than $29.9 billion in financing raised within the industry, a new study from Ernst & Young reports.
In the study, Beyond Borders: Global Biotechnology Report 2008, Ernst & Young examines three key trends that are transforming business models and the nature of competition for biotechnology and pharmaceutical companies today.
Reinventing Big Pharma
For biotech firms, the opportunity to work collaboratively with big pharma is increasing steadily, providing companies with an increased share of the value they help create.
The Rise of Personalized Medicine
Personalized medicine will fundamentally change the competitive landscape — changing the bargaining power of small and big drug companies and forcing firms to reassess traditional sources of competitive advantage.
Globalization
Globalization is radically altering the traditional competitive advantages of pharmaceutical and biotech companies. Western companies will have increased opportunity to work with partners in emerging markets to develop innovative products suited specifically for local market conditions.
To read the full report, click on EY.Com/Global/Content.NS
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