International Advanced Course: Strategic Communication & Applied Ethics in Nanobiotechnology
European Biotech: Surviving the storm
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Ernst & Young's 10th Annual European biotech report, "Endurance" published 7 May 2003, reveals that after a decade of 30-40% year on year growth in revenues and 10-20% increases in employee numbers, the European biotech sector stalled in 2002. Revenues fell by 2% to €12.9 billion and employee numbers fell by 6% to 82,100.
The current hostile financing environment is forcing companies to radically rethink their strategies, and Ernst & Young predicts that as the divide between the haves and the have-nots continues to widen, further fall-out in the sector can be expected over the coming twelve months. However this is a cycle that has been experienced several times already in the US and will result in a stronger and more robust industry in Europe.
Read the whole article by Ernst & Young on:
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| http://www.ey.com/GLOBAL/content.nsf/International/Press_Release_-_European_Biotech_2003_-_Surviving_the_Storm |
