The biotechnology industry
According to the Biology Technology Organization, biotechnology is simply “technology based on biology – biotechnology harnesses cellular and biomolecular processes to develop technologies and products.” These technologies and products include food technology, genetic research, healthcare, and environmental technology.
The above graph shows the breakdown of total revenues that biotechnology companies (IBB) earn in the various disciplines. Biopharmaceuticals are drugs developed from biological sources and used to treat animal and human diseases. They account for about a third of total revenues, or $150 billion, earned by the biotechnology sector in 2014.
Biotech seeds, or genetically modified food, is the cross discipline between biotechnology and agriculture. Industrial biotechnology includes all other applications of biotechnology in sectors like chemicals, biofuels, feedstock, and energy.
Biopharmaceuticals
Biopharmaceutical companies such as Amgen (AMGN), Biogen (BIIB), Regeneron Pharmaceuticals (REGN), and Celgene (CELG) differ from pharmaceutical companies based on a drug’s development process. Traditionally, pharmaceutical companies have manufactured small molecule compounds that contain various chemicals. The drugs are termed “small molecule” since the molecule is small enough for the body to absorb its constituents in pill form.
Biopharmaceutical drug manufacturing involves programming live cells to produce large molecule drugs on a mass scale. The manufacturing process of biopharmaceutical drugs is more complex and capital-intensive than small molecule drugs. So these companies take longer than pharmaceutical companies to generate positive cash flows. Biopharmaceutical drugs have historically had higher commercial success rates than traditional pharmaceutical drugs.
Source: Market Realist
Giovanni Caforio, the former CEO of Bristol Myers Squibb, is set to become the next board chairman of Novartis, which on Tuesday proposed the pharmaceutical industry veteran as its pick to replace Joerg Reinhardt in the role next year. Reinhardt has served as Novartis’ chair since 2013 and plans to retire when his 12-year term ends in 2025.
GE HealthCare has raised the curtain on two ultrasound systems equipped with artificial intelligence programs designed to assist in diagnosing conditions in women’s health, including obstetric exams. The Voluson Signature 20 and 18 imaging systems include AI tools capable of automatically identifying and annotating measurements of fetal anatomy.
Scientists from the University of Edinburgh’s School of Chemistry have revealed a new sustainable method of manufacturing complex molecules that could reduce waste produced during drug production. The method published in Nature Chemistry could help to prevent severe side effects caused by drugs that can exist as enantiomers.
