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Ernst & Young Report: Biotech Industry Reaches Profitability for the First Time

By Donald Zuhn, Kevin Noonan, Chris Singer, Sherri Oslick, and Jason Derry

By Donald Zuhn -- On Wednesday, less than a week before the industry congregates in Chicago for the 2010 BIO International Convention, Ernst & Young issued its 24th annual report on the biotech sector. In the report, entitled "Beyond Borders: Global Biotechnology Report 2010," the professional services firm concludes that "[t]he global biotechnology industry was able to weather the continued worldwide economic turmoil and deliver a strong financial performance in 2009, with the world's established biotech centers reaching profitability for the first time in history." Despite the good news, Glen Giovannetti, Ernst & Young's Global Biotechnology Leader, predicted that biotech...

Full post as published by Patent Docs on April 30, 2010 (boomark / email).