Biotech 1995: Restructuring And Renewal

2 October 1994

Pharmaceutical industry restructuring has ramifications for the biotechnology industry. In an era of health care consolidation, large health care alliances could effectively block smaller biotechnology companies from gaining access to the market place, except through pharmaceutical companies, according to Biotech 95: Reform, Restructure and Renewal, Ernst & Young's ninth annual report on the biotechnology industry.

As most biotechnology companies are focused on products in the preclinical or early-stage clinical development, says the report, it is easy to lose sight of the importance of market restructuring when the need for ensuring the availability of capital and successfully completing clinical development are far more immediate concerns. However, it says, the pharmaceutical industry redefinition creates an enormous opportunity for emerging biotechnology companies.

In the current environment of uncertain funding, notes the report, biotechnology companies are increasingly turning to alliance partners to meet their needs for capital, product development expertise and access to markets. Partnering has become the vehicle through which companies can accomplish their strategic goal. The result is that biotechnology companies are aligning with big pharmaceutical companies and with each other in a complicated web of interdependence.

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