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Publications - Europe
Biotechnology in Europe: 2005 Comparative study |
This comparative study was produced by Critical I for EuropaBio. It was presented as a comprehensive study comparing the biotech industry across some fifteen European nations and the USA at the World Life Sciences Forum BioVision, Lyon. For the first time, the study uses a single definition of biotech which is consistently applied across all countries to permit true comparability between nations.
The figures reveal that while Europe and US have the same number of companies, the US biotechnology industry employs twice as many people, spends almost three times as much on research and development, raises 3 or 4 times as much venture capital, and has access to 4 times as much debt finance. In Europe, however, more new companies are established.
It suggests that "Europe starts a lot of biotech companies, but they need to be muscular enough to compete internationally" .
The report develops the idea of the Elite European Company. These companies are relatively large, still growing, and continuing to invest in value-creating R&D. "Elite European Companies can compete against US firms for finance, personnel, and deals. The problem is, there simply aren't enough of them.
The study includes a profile of the biotechnology sectors in each of the 15 countries covered as well as what a typical company looks like.
According to the study the financing gap is probably the biggest barrier for European biotech industry, particularly the lack of suitable financial infrastructure later in the business cycle. Thus, many companies collapse after 3 to 5 years.
For more details obtain the document as a PDF or review the slide show presentation.
Link to the report: study Biotech-Europ .
Link to slides: presentation
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