French budget boost for biotech SMEs

The French government has announced a 2000 budget allocation of 150million euros ($136 million) to accelerate the development principally of medium-sized and smaller biotechnology companies, because of their influence on long-term economic growth and contribution to health care. Philippe Pouletty, president of the sector group France Biotech, said the decision was a genuine success for the industry and, if these measures were expanded in the years ahead, France's biotechnology sector could catch up with competitor countries and achieve a leading position in Europe.