Poland's biotechnology industry expected to boom in 2011

Poland's market for biotechnology - which can be used in pharmaceuticals and medicine ('red biotechnology') - is growing at a moderate pace, says local market research group PMR. Indeed, it notes, in 2008 the sales of industry players even declined, as Bioton, the largest Polish biotech firm, performed poorly. Biotechnological firms are working hard on new products, the sales of which will have a substantial impact on the rate of growth of the industry over the next two years.

No significant development in biotechnology before 2011

In the last two years, the Polish pharmaceutical biotechnology industry has seen a significant reduction in the annual rate of sales growth, according to the latest PMR Publications report 'Biotechnological innovations in the pharmaceutical industry in Poland'. According to PMR estimates, in 2008 the industry's revenues suffered as a result of a deterioration in the performance of Bioton..It was estimated that, in 2008, biotech companies in the Polish pharmaceutical industry achieved combined sales worth 607 million zlotys ($247 million), around 2% less than the 2007 figure. Nevertheless, in future years, despite the uncongenial economic situation, the market will grow at several percent per year, and in 2011 sales should improve by almost 30% year-on-year. This will be a consequence of the development of innovative projects which are, today, at the inception or start-up stage and are not yet yielding a return, notes PMR.