Report: Biotech industry reached $1 trillion in 2014

The global biotechnology industry reached new heights in 2014 to reach a $1 trillion capitalization for the first time, according to a major new report by EY.

The company’s 29th annual industry report,  Beyond borders: Reaching new heights, found that the industry set records on virtually every major financial metric, including revenues, profitability and capital raised. These positive performance indicators, combined with several high-profile product successes and a strong year for new drug approvals, drove the industry's total market capitalization above the $1 trillion threshold for the first time in its history.

Glen Giovannetti, EY's Global Life Sciences Leader, said: “The global biotechnology industry's outstanding performance and maturation are driving optimism that a new age of biotech innovation will create long-term value for companies, their investors and patients. Investors are bullish on the future, investing historic amounts in the smaller players that will drive future breakthroughs."