Market trends

The USA is home to the largest pharmaceutical and biotechnology market in the world. The birthplace of biotechnology, the US industry is forecast to raise about $40 billion in 2007, mostly for product development.

Around $16 billion is expect through partnering deals and the rest through financing structures. The partnering paradigm has been mostly around blockbuster sales potential but there has been a developing scope for other smaller indications and for early stage partnering.

The US is home to the largest and most successful biopharma companies in the industry, which provide a significant partnering food chain, including Pfizer, Merck, and larger subsidiaries of key EU pharma as well as the world's largest biotechs Genentech, Amgen, Biogen Idec, Genzyme amidst some 1400 biotechs. More than a dozen US companies have blockbuster drugs, each with sales exceeding US$500 million.

The U.S. biotechnology industry is represented by the Biotechnology Industry Organization (BIO), a non-profit association that plays an advocacy role with local and federal government agencies to strengthen biotechnology innovation and government policy. BIO is widely known for its BIO International Convention, a four-day annual biotechnology showcase that fosters business development activities for U.S. companies.

More information about BIO and the annual convention can be found at www.bio2007.org

Austrade Washington plays a major role in the delivery of Austrade's service for the Australian bioindustry.