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New life sciences R&D model based on real-time learning and data-sharing needed to sustain innovation
Date:6/18/2012

BOSTON and LONDON, June 19, 2012 /PRNewswire/ -- The global biotechnology industry showed a second straight year of increasingly stable financial performance in 2011, according to Ernst & Young's 26th annual biotech report, Beyond borders: global biotechnology report 2012, with established biotech markets registering more than 10% revenue growth for the first time since the start of the global financial crisis. However, longer-term sustainability remains challenging, with the traditional funding-and-innovation model for pre-commercial biotech firms under unprecedented strain and the industry's efforts to date to "do more with less" uncertain to deliver significant productivity gains.

"In this capital-constrained environment, the inefficiency and duplication of the drug R&D paradigm is an indulgence we can no longer afford," says Glen Giovannetti, Ernst & Young's Global Life Sciences Leader. "More than ever, the industry needs to remove duplication, encourage pre-competitive collaboration, pool data and allow researchers to learn in real time."  

Key results highlighted in the report include:

  • Revenue stabilizes: Companies in the industry's established biotech centers (US, Europe, Canada and Australia) achieved revenues of US$83.4 billion in 2011, a 10% increase from 2010 on a normalized basis (after adjusting for the acquisition of three large US-based biotechs by non-biotech buyers).
  • R&D rebounds: After slashing R&D spending in 2009 and increasing it modestly by 2% in 2010, the industry grew R&D by a healthy 9% (on a normalized basis) in 2011.
  • Overall funding explodes, but "innovation capital" stays flat: Biotech companies raised a staggering US$33.4 billion in 2011, second only to 2000, when the genomics bubble was at its height. However, this increase was driven by a handful of commercial leaders with revenues in excess of US$500 million that took advantag
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  • SOURCE Ernst & Young
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