US Biotechnology Firms Grew Exponentially in 2006

Delhi, India (PressExposure) May 09, 2007 -- Year 2006 remained extraordinarily good for the US biotechnology firms. The firms were able to deliver rapid growth in revenues and earn huge profits. Biotechnology firms in US raised US$ 27.9 Billion in loans and investments in this year, maximum since 2000. This reflected the increasing alliances with drug makers of global industry.

Financings, public offerings, and revenues all showed remarkable increase as the biotechnology firms in US went on to strengthen their position as innovation engines in pharmaceutical sector, as per Ernst & Young - accounting & consulting firm – in their annual report card on this industry.

Currently, there’re 52 profitable biotechnology firms. A new genre of firms is joining biotechnology giants, such as Genentech and Amgen, and this has successfully propelled drugs through to the regulatory approval, as per Gautam Jaggi, US based analyst for Ernst & Young Global Health Sciences.

Above 4,000 biotechnology firms are into the business of manipulating cells and genes. They are manipulated largely for developing drugs for arthritis, cancer, and other diseases. Older makers of drug have paid to formulate alliances with biotechs, after depending on chemistry for developing products.

Globally, revenues from biotechnology exceeded US$ 70 Billion for the 1st time as Europe and Canada also enjoyed double digit growth. Venture funding throughout the world reached a record US$ 5.4 Billion, also total financing registered a growth of 42% to reach US $27.9 Billion. Value of biotechnology market globally is expected to be US$ 226.1 Billion by the year 2010.

According to RNCOS report “US Biotech Market Analysis”, “In 2005, total revenues generated by the US biotechnology market reached US$ 68.6 Billion, representing a CAGR of 15.16% (between 2001 and 2005). However the industry is expected to generate US$ 131.8 Billion in revenues towards the end of 2010.”

This research report on “US Biotech Market Analysis” provides extensive research and objective analysis of the Biotechnology industry in US. This report helps clients in analyzing the opportunities critical to the growth of The Biotechnology industry in US. Key issues addressed are: major market trends in the US Biotechnology industry, opportunities and challenges before the Biotechnology industry, etc.

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RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of industry experts who analyze data collected from credible sources. They provide industry insights and analysis that helps corporations to take timely and accurate business decision in today's globally competitive environment.

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Press Release Submitted On: May 09, 2007 at 5:29 am
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