"This is because we do not know how President Barack Obama's proposal for health care reform will fully impact the biotechnology industry and the status of biosimiliar legislation (follow-on biologics) is also still unresolved," noted Burrill, "and there are fears that these issues will drive the prices of innovative drugs lower and eat away at biotech company profits."
Biotech Industry Statistics for July
The monthly, subscription-based Burrill Report (www.burrillreport.com) provides ongoing statistics and analysis on the 342 biotechs that are publicly traded on major US markets. Among the current data the publication reports that at the end of July this group of companies had an aggregate market cap of $345 billion (up 7 percent for the month). Also:
- There are 48 companies that have market caps greater than $1B (an increase of 11 percent since June)
- 152 public biotech companies (44%) have a market cap below $100 million
- Over 112 companies have announced a corporate restructuring by slashing staff and/or putting promising projects in the refrigerator. Recent announcements included:
- Celera cut 80 employees or 13 percent of its workforce
- Epix Pharmaceuticals entered bankruptcy and is winding down its operations.
- YTD the Burrill Biotech Select Index is up 4 percent
July Biotech Indices Index % % 12/31 12/
|SOURCE Burrill & Company|
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