1/3/2005

The troubles experienced by several companies in the pharmaceutical industry this past year have left biotech investors concerned the FDA will have to clamp down on safety problems affecting biotech firms along with drugmakers. Nonetheless, Ernst & Young International foresees no slowdown in sales of biotech drugs and vaccines, with industry revenues expected to rise to $51.4 billion this year, a 19.5% increase over revenues expected to be reported for 2004.

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