UK Dominating European Biotechnology Industry

30 June 1996

The UK accounts for more than a quarter of all European entrepreneural biosciences companies and over 90% of publicly-quoted bioscience firms in Europe, according to a new study published last month by Ernst & Young.

The report is a supplement to Ernst & Young's well-respected European Biotech '96 report, the third in the series, which was published in April. Key findings of the new study are summarized here.

Ernst & Young estimates that the total turnover of entrepreneurial UK bioscience firms currently stands at L310 million ($478.6 million), which is a 25% increase on the previous year. This level of turn-over accounts for 32% of the total European sector, and the firm anticipates that this will increase over the next few years as UK companies begin to build their revenues. By March 1996, the market capitalization of the publicly-quoted UK firms had topped L5 billion, and is still rising.

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