While pharmaceutical companies are struggling , Biotech continues to grow at a rapid rate, and is part of the reason for pharma’s big investments in bio tech companies. Innovative and new products continue to flow, although there are some downsides with companies that fail to meet goals and thus fold up and go away or if the funding and financial support is there, they continue efforts in another or similar direction. BD
NORWALK, Conn.--(BUSINESS WIRE)--Global prescription sales of biotech drugs increased 12.5 percent in 2007 to more than $75 billion, according to a new report by IMS Health (NYSE: RX), the world's leading provider of market intelligence to the pharmaceutical and healthcare industries. The global biotech market grew at nearly double the rate of the global pharmaceutical market, which increased 6.4 percent in 2007.