The Biotechnology Industry

Paper Summary:

This paper takes macroeconomic's view of the biotechnology industry by showing how the industry is currently made up of several small and medium sized firms along with few large concerns. The author indicates how the industry has been growing steadily for almost a decade and how it is making significant profits even when the economy on the whole is faced with a recession-like situation.

From the Paper:

"As the biotechnology industry is rapidly expands it has been attracting attention of both the government and the investors. Many firms have entered the field though there are only a handful of large multi-million dollar firms. The industry has been engaged mainly in the research and development of biotechnology products including several drugs and vaccines, which are based on biomedical research. Biotechnology is fast becoming the center of attention as scientists and researchers are taking a keen interest in this field. The government has also shown keen interest in the development of this industry but with biotechnology thousands of protests have also emerged."

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