July 17, 2008

More green needed for biochems

Thanks to Paul from Biotechnology Industry Organization (BIO) for alerting me on this hot off the press market study on industrial biotechnology by the US International Trade Commission (ITC).

According to the ITC, research and development within the US bio-based chemical industry (including pharmaceuticals) grew strongly from 2004 through 2007, with R&D expenditures reaching $3.4bn last year, much larger than that of liquid biofuels R&D (at $152.5m). A small number of large pharma companies accounted for a larger share of bio-chemical R&D expenditures.

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