Biotechnology: Past, Present, and Future - Thirty years after the first biotechnology company opened its doors, the sector is reaching a new level of maturity and globalization. - BioPharm

ADVERTISEMENT

Biotechnology: Past, Present, and Future
Thirty years after the first biotechnology company opened its doors, the sector is reaching a new level of maturity and globalization.


BioPharm International
Volume 20, Issue 10

CONCLUSION

Overall, biotechnology will continue to fuel a major transformation in healthcare—one that emphasizes earlier disease detection, more targeted treatments, and adjunctive support through enhanced nutrition. Further progress will be made on the personalized, predictive, preventative medicine front, with new products targeting the individualization of medicine in the marketplace.

Despite the traditional obstacles that the industry constantly faces—the political and regulatory environment, the whims of an often fickle capital market, and world events beyond its control—the biotechnology industry has survived and prospered as a unique entity, distinct from allied industries but open to joint ventures with them.

The demise of the biotechnology industry has been predicted many times during its down cycles—but now, at well beyond the halfway point of 2007, the industry remains strong. The demise of the biotechnology industry was predicted in 2003, yet the biotech industry demonstrated not only its durability but also its ingenuity. Having survived the ravages of the bear market, the industry got back on track. Although technical and regulatory challenges abound and risks remain, biotech is no longer an industry of dreams—biotech products and revenue streams are real. But the most exciting news of all is that we've only just embarked on what is destined to be a very rewarding journey.

Challenges for growth and prosperity remain. Moreover, new challenges have arisen with the entry into the era of personalized medicine. The biotechnology journey has been an amazing one so far, and the coming decade will be even more exciting.

G. Steven Burrill is chief executive officer at Burrill & Company, San Francisco, CA, 415.591.5400,
.


blog comments powered by Disqus

ADVERTISEMENT

ADVERTISEMENT

Compounding Pharmacy Issues Recall, But Challenges FDA Decision
July 22, 2014
AbbVie's Acquisition of Shire Could Save $8 Billion in Taxes
July 21, 2014
AbbVie to Acquire Shire for $54.7 Billion
July 18, 2014
AstraZeneca Reveals Design for New Global R&D Center and Corporate Headquarters
July 18, 2014
Particulate Matter Prompts Baxter's Recall of IV Solutions
July 17, 2014
Author Guidelines
Source: BioPharm International,
Click here