Ernst & Young, an internationally renowned consulting company, said in its latest international biotechnology industry's annual report that the global biotechnology industry's financing and transaction volume in 2007 both reached a record high.
Last year, biotechnology companies in the United States and Europe raised a total of 30 billion U.S. dollars from stocks and private investment companies, setting a record high. Investors from all parties are attracted by the prospects of the biotechnology industry and have generously donated money to 800 public companies in the industry. According to statistics, the research and development expenses of these 800 companies reached 31.8 billion U.S. dollars last year, which resulted in a total revenue of 84.8 billion U.S. dollars, an increase of 8% over 2006.
According to the report, although these companies still suffered losses last year and lost a total of 2.7 billion U.S. dollars, they have significantly reduced their losses from the 7.4 billion U.S. dollars in 2006. In addition, the valuation of the biotechnology industry in mergers and acquisitions and strategic alliances reached a record high last year. According to statistics of Ernst & Young, this value of US and European companies is about 95 billion US dollars. However, the consulting firm said that in the coming year, the global financial environment will be a challenge for the biotechnology industry.
In the words of the head of Ernst & Young’s global biotechnology industry, “In 2008, the biotech industry must continue to maintain the growth rate of previous years in terms of financing, etc., and must face the chilling stock market, more stringent regulatory review and higher The products must be more creative and innovative in order to meet the challenges of listing conditions."
Last year, biotechnology companies in the United States and Europe raised a total of 30 billion U.S. dollars from stocks and private investment companies, setting a record high. Investors from all parties are attracted by the prospects of the biotechnology industry and have generously donated money to 800 public companies in the industry. According to statistics, the research and development expenses of these 800 companies reached 31.8 billion U.S. dollars last year, which resulted in a total revenue of 84.8 billion U.S. dollars, an increase of 8% over 2006.
According to the report, although these companies still suffered losses last year and lost a total of 2.7 billion U.S. dollars, they have significantly reduced their losses from the 7.4 billion U.S. dollars in 2006. In addition, the valuation of the biotechnology industry in mergers and acquisitions and strategic alliances reached a record high last year. According to statistics of Ernst & Young, this value of US and European companies is about 95 billion US dollars. However, the consulting firm said that in the coming year, the global financial environment will be a challenge for the biotechnology industry.
In the words of the head of Ernst & Young’s global biotechnology industry, “In 2008, the biotech industry must continue to maintain the growth rate of previous years in terms of financing, etc., and must face the chilling stock market, more stringent regulatory review and higher The products must be more creative and innovative in order to meet the challenges of listing conditions."
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