Big Biotech is here — and it’s starting to look a lot like Big Pharma
By Meghana Keshavan,
STAT News
| 06. 06. 2016
Move over, Big Pharma. Big Biotech is coming for you.
As drug developers and investors from around the world gather in San Francisco this week for the annual BIO International Convention, a new look at the biotech industry shows the biggest players are starting to behave more and more like pharmaceutical giants.
There are 17 biotech companies in the US that generate more than $500 million per year in revenue. And they’re increasingly focused on buying innovative new products through mergers and acquisitions, rather than developing them in house, according to a report from EY (formerly Ernst & Young) released Monday.
“We now have multiple big biotechs that have the financial firepower to compete with big pharma,” said Ellen Licking, a senior analyst in EY’s life sciences practice.
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