Report: Biotech industry more global, headed toward profitability

06/1/2005 | Reuters · Pittsburgh Post-Gazette

In its search for new markets and lower costs, the industry is becoming increasingly internationalized through cross-border alliances, mergers and acquisitions, according to a new report, "Beyond Borders," from Ernst & Young. The same report notes the industry lost a collective $6.4 billion last year, but the promise of about 365 drugs in the last stages of development should make the industry as a whole profitable by 2009.

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Reuters · Pittsburgh Post-Gazette

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