As $50B biotech industry marks its 30th anniversary, some stats, facts & metrics

The founding of Genentech in April 1976 is considered the birth of U.S. biotech industry. Revenues of U.S. biotech firms topped $50 billion last year, up almost 16%, double the 8% growth rate of the traditional drug makers ($600B global pharma sales in 2005). Here are Some revealing stats on the U.S Biotech industry:
  • Biotech firms are getting a bigger share of venture capital in the life sciences field: 17% last year, about four times the percentage in 1999.
  • Two of the top 10 medicine makers in the world by revenue now are biotech companies, Genentech ($89 billion market cap) and Amgen ($84 billion market cap).
  • The number of U.S. approvals of new drugs last year hit 18 for biotech companies, versus only 11 for traditional drug companies. 
  • U.S. biotech companies are still in the red, but their combined net loss dropped 40 percent to about $4 billion in 2005.
  • In New Jersey, the 29 publicly traded biotech companies had a combined $1.45 billion in revenues last year, up 11% from 2004, and their market capitalization jumped 38% to nearly $17 billion. 
  • In eastern Pennsylvania, 11 publicly traded companies saw their combined revenues climb 18% to $1.42 billion, and their market capitalization rose 11% to $6.9 billion. 
  • New Jersey and Pennsylvania biotechs pulled in $506 million in venture capital last year, up from $161 million in 2004.

The top 10 global pharmaceutical companies account for over $300 billion dollars in annual sales and sport a hefty $1.2 trillion market capitalization. Pfizer tops the list with over $50 billions in revenue and little over $200 billion market cap.

U.S retail drug sales registered a 5% growth rate to hit $190 billion mark during the 12 month period ending July 2006.  Total U.S. healthcare cost is expected to cross the $2.0 trillion mark this year.

According to Hewitt, the average health cost per person for major companies will increase from $7,744 in 2006 to $8,340 in 2007. 

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