The depth and virulence of the financial crisis means that the funding model for the biotechnology industry will have to change, leading to a period of increased consolidation, according to the latest annual biotechnology report issued by Marks & Clerk, a leading, UK-based intellectual property firm.
The study, based on an international survey of 365 executives across the biotechnology and pharmaceutical sectors, also reveals a widespread belief that US President Barack Obama's recently-announced initiatives and reforms will strengthen the position of the US as a center for the industry, providing a further threat to Europe and the UK in particular. Britain currently enjoys a strong position within the industry, which Chancellor of the Exchequer Alistair Darling is looking to boost via the newly-created Strategic Investment Fund announced in the Budget.
Lack of appetite for risk
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