Report: Government oversight threatens California's biotech boom

01/23/2008 | Forbes

Biotech businesses in California -- including those focused on drug development, medical devices and diagnostics -- brought in more than 40% of the $7.4 billion in biotech venture capital in 2006, according to a new PriceWaterhouseCoopers report. The industry's steady growth could be hampered, however, as the federal government is likely to have increased involvement in oversight of drug safety and cost-effectiveness.

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