Global Financial Crisis Making Biotech Business Model Unsustainable, According To Ernst & Young

Despite worldwide economic turmoil, the global biotechnology industry delivered a solid financial performance in 2008, according to Beyond borders: Global biotechnology report 2009, Ernst & Young’s 23rd annual report on the biotech industry. However, the prolonged and systemic funding drought is placing the business model that fueled biotech growth for the past 33 years under unprecedented strain.

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Filed under: Pharma Industry on May 11th, 2009