Abstract
Charles Darwin told us that it is not the strongest of the species that
survives, nor the most intelligent, but the one most responsive to change.
Biotech 2010 - Life Sciences: Adapting for Success, Burrill & Company' s latest
annual report on the industry, provides insight into biotech' s changing
environment and how not to just survive but succeed.
Learn how to thrive
Available in March 2010, the publication provides thoughtful information and
analysis on how companies need to adapt to major challenges to their business
development in order to be successful in 2010 and beyond. These include:
raising capital, impending healthcare reform, comparative effectiveness
research, generics, biosimilars, reimbursement pressures and regulatory
changes.
In addition Biotech 2010 presents:
- Comprehensive 2009 industry financials, private and public capital raised,
M&A/Partnering activity of life sciences companies operating in the United
States, Europe, Canada, and Asia.
- Analysis on key developments in healthcare, personalized medicine,
biogreentech, emerging technologies, politics and policy and
globalization...and much more.
Table of Contents
Chapter 1: Is Biotech' s Glass Half Full or Half Empty?
G. Steven Burrill, CEO of Burrill & Company, discusses how the industry still
faces a number of challenges in 2010 and will need to be adaptable to face up
to them and position themselves for success.
Chapter 2: An Industry Evolves
Top pharmaceutical companies are expected to lose more than $140 billion in
annual revenue by 2016. That' s driving an aggressive effort by pharmaceutical
companies to fill their pipelines with biotech products, reach into new
markets, and find new ways to generate revenue.
Chapter 3: Emerging Technology Drives Personalized Medicine
A transformation of medicine is underway as new technologies are not only
unlocking the genetics underlying disease, but ushering in a new era of
personalized medicine.
Chapter 4: Combating the Rising Cost of Healthcare
Pharmaceutical, biotech, and medical device companies are facing a more
hostile regulatory and legislative environment as governments seek to reign in
healthcare costs. Companies will need to demonstrate their products are not
only safe and effective, but provide true economic benefits over existing
therapies.
Chapter 5: Advancing Toward a Bioeconomy
Biogreentech companies that survived the global recession are adapting to the
challenging environment by broadening their platforms to include renewable
chemicals and biopolymers, as well as opportunities in other markets.
Chapter 6: Acting Globally
As the process of globalization proceeds, the world is becoming flat, changing
the dynamics of innovation and commercialization as well as the distribution
of wealth and the incidence of disease. Any country that is prepared to
nurture its venture capital and an entrepreneurial ecosystem is poised to
benefit economically and not necessarily at the expense of another region.
Canada Latin America Europe Denmark Hungary Australia China India Japan South
Korea Malaysia The Middle East
Chapter 7: Pharma Reinvents Itsel Through M&A and Partnering
Megadeals marked 2009 starting with Pfizer' s $68 billion acquisition of Wyeth,
the merger of Merck and Schering Plough, and Roche' s acquisition of Genentech.
Big pharmaceutical companies, at the edge of the patent cliff, were busy
becoming biotechs either through acquisitions or partnerships.
Chapter 8: A Rough Ride on the Road to Recovery
The biotech industry closed its books on a year where the industry' s stock
values dipped dramatically during a turbulent opening quarter, followed by
slow, steady recovery. The V-shaped stock chart performance of biotech in 2009
mirrored what happened in the general capital markets. Despite the choppiness
of the capital markets, three IPOs did get out the door, generating more than
$1 billion, raising industry hopes that the IPO window was about to open.
U.S. Public Company Financial Data
Comparison data on individual life sciences companies and the industry as a
whole
About Burrill & Company
A look inside Burrill & Company and its international venture capital,
merchant banking, private equity, and media operations.
List of charts
Chapter 1: IS BIOTECH' S GLASS HALF FULL OR HALF EMPTY?
- Figure 1.1 Historical U. S. Biotech Industry Market Cap
- Figure 1.2 Pharma Company Rankings by U.S. Sales, 2000 vs 2008 (USD B)
- Figure 1.3 Market Cap for Top-Tier Pharmaceutical Companies
INDUSTRY METRICS
- Figure IM.1 U.S. Life Sciences Industry at a Glance
- Figure IM.2 Top Biotech, Pharma, and Med Device Companies Ranked by Market
Cap
- Figure IM.3 Burrill Public Biotech Companies Performance 2001 to 2009 (USD
B)
- Figure IM.4 Pharma vs. Biotech Market Cap (USD B)
- Figure IM.5 Companies Liquidating
- Figure IM.6 U.S. Life Sciences Venture Capital by Region and State
- Figure IM.7 Top-Selling Biotechnology Drugs
- Figure IM.8 Pharma Product Sales 2009 (USD M)
- Figure IM.9 New Drug Approvals, 2009
Chapter 2: AN INDUSTRY EVOLVES
- Figure 2.1 Companies Face Loss of Revenues from Patent Expirations
- Figure 2.2 Pharma Acquires Biotech
- Figure 2.3 Pharma Deals to Access Biotech Innovation
- Figure 2.4 Analysis of Sales of Drugs by Technology
- Figure 2.5 Top Ten Products by Sales in 2014 (projected) & 2000
- Figure 2.6 Innovation Gap: R&D Investments Versus New Drug Approvals
- Figure 2.7 Select Pharmaceutical Vaccine Deals in 2009
- Fgure 2.8 Top Pharmaceuticals' Performance in Emerging Markets
- Figure 2.9 Pharmaceutical Companies Move into Emerging Markets
- Figure 2.10 Acquisition Deals with Milestone Contingencies
- Sidebar Pharmaceutical Corporate Venture Funds
Chapter 3: EMERGING TECHNOLOGY DRIVES PERSONALIZED MEDICINE
- Figure 3.1 Companion Diagnostics Surge
- Figure 3.2 The Changing Focus of Healthcare - From Sickness to Wellness
- Figure 3.3 The Shrinking Cost of DNA Sequencing - Toward the $1000 Genome
- Figure 3.4 Venture Investments in Wireless Health in 2009
- Figure 3.5 Wireless Health Deals
- Figure 3.6 Largest Disease Markets for Consumer Digital Health
Chapter 4: COMBATING THE RISING COST OF HEALTH CARE
- Figure 4.1 Actual and Projected U.S. Health Care Spending, Selected Years
- Figure 4.2 The Nation' s Health Care Dollar, Where it Went - 2008
- Figure 4.3 The Nation' s Health Care Dollar, Where it Came From - 2008
- Figure 4.4 Life Expectancy vs. Health Care Spending in OECD Countries
- Figure 4.5 Health Care Reforms in Major Markets
- Figure 4.6 Budgeting for Research on Comparative Effectiveness
- Figure 4.7 Recommended Comparative Effectiveness Research Priorities by
Research Area
- Figure 4.8 Top-Selling Biological Products
- Figure 4.9 Cost of Chronic Diseases
- Figure 4.10 Growth Forecast for Retail Clinics
- Figure 4.11 Medical Tourism Sample Surgery Costs (USD)
Chapter 5: ADVANCING TOWARD A BIOECONOMY
- Figure 5.1 World Energy Demand by Fuel Type
- Figure 5.2 World Primary Energy Demand Fossil Fuel vs. Zero-Carbon
- Figure 5.4 Expected Clean Energy Investment 2007 - 2030; (USD Billions)
- Figure 5.5 Projected Investment by Sector, 2020
- Figure 5.6 Renewable Energy Projected Global Revenue Growth 2008-2018
- Figure 5.7 Select U.S. Biogreentech Venture Financing 2009, by Category
- Figure 5.8 Governments Finance Bioenergy Projects
- Figure 5.9 EPA' s Revised Renewable Fuel Volume Requirements in Billions of
Gallons
- Figure 5.10 Global Biofuel Production 2022
- Figure 5.11 Select Renewable Fuel and Industrial Biotech/Biofuels Deals in
2009
- Figure 5.12 Select Industrial Biotech/Biofuels M&A in 2009
- Figure 5.13 Potential Growth of Bioproducts
- Figure 5.14 Agricultural Production and Predicted Amount of Calories
Needed in 2050
- Figure 5.15 Global Area of Biotech Crops
- Figure 5.16 Innovation in Agbiotech
- Figure 5.17 The Transgenic Advantage
- Figure 5.18 Global Venture Capital in Agriculture, in Millions of Dollars
- Figure 5.19 Expansion in Value of GMO Market and GMO Acreage
- Figure 5.20 Select Agbio Deals in 2009
- Figure5.21 Select Agbio M&A in 2009
- Figure 5.22 Gains in Yield When Breeding for Drought Tolerance in Corn
- Figure 5.23 Big Ag and Chemical Companies Strike Deals
Chapter 6: PLAYING ON A GLOBAL FIELD
Lead Box Growth of Emerging Markets
- Figure 6.1 Indexed Clinical Trial Costs
- Figure 6.2 Global Pharmaceutical Market Forecast
- Figure 6.3 Clinical Trials around the World
- Figure 6.4 Clinical Trials in India
- Figure 6.5 Global Competitiveness Index Including BRIC Countries
Canada
- Figure 6.6 The Burrill Canadian Biotech index 2009
- Figure 6.7 Biotech Venture Capital Investments in Canada in 2009
- Figure 6.8 Select Canadian Biotech Partnering Activity
- Figure 6.9 Select Canadian Biotech M&A Deals
- Figure 6.10 Market Cap of Public Canadian Biotech Companies
Latin America
- Figure 6.11 Brazil: Drug Market Spending by Therapy Area (USD B)
- Figure 6.12 Chilean Biotech industry Snapshot
- Figure 6.13 Argentina' s Biotech Sales by Sector
- Figure 6.14 World Fuel Ethanol Production in Millions of Gallons
Europe
- Figure 6.15 European Venture Financings by Country
- Figure 6.16 Select European Public Financings, 2009
- Figure 6.17 Select European Partnerings, 2009
- Figure 6.18 European Venture Financings, 2009
- Figure 6.19 Select European M&A, 2009
- Figure 6.20 European Union Companies' Cash on Runway 2010
List of charts
Denmark
- Figure 6.21 Pipeline Growth in Denmark
- Figure 6.22 Denmark' s Commercial Drug Development Pipeline
- Figure 6.23 Development in Danish Drug Exports, 1997-2009
- Figure 6.24 Clinical Trial Sites
Hungary
- Figure 6.25 Key Biotech Statistics in Hungary
- Figure 6.26 Hungarian Pharmaceutical Market Forecast
Australia
- Figure 6.27 The Australian Biotech Sector
- Figure 6.28 Select Australian Biotech M&A in 2009
- Figure 6.29 Select Australian Partnering Deals in 2009
- Figure 6.30 Top Ten Australian Biotech Companies (September 30, 2009)
China
- Figure 6.31 Significant Healthcare Reform Taking Place in China
- Figure 6.32 China Healthcare Company Initial Public Offerings
- Figure 6.33 Reform Will Lead to Growing Opportunities
- Figure 6.34 China Healthcare Venture Capital and Private Equity Deals
- Figure 6.35 China Healthcare Mergers and Acquisitions, 2009
India
- Figure 6.36 India' s Pharma Sales on the Rise
- Figure 6.37 Select Indian Cross-Border Alliances
- Figure 6.38 Burrill India Life Sciences index, 2009
- Figure 6.39 Select List of Financings in india in 2009
Japan
- Figure 6.40 Japan Biotechnology Market Value: 2004-2008
- Figure 6.41 Select Japanese Pharmaceutical M&A, 2009
- Figure 6.42 Japanese Pharmaceutical Companies' Market Cap
- Figure 6.43 Select Japanese Life Sciences Partnering, 2009
South Korea
- Figure 6.44 South Korean Life Sciences IPOs in 2009
- Figure 6.45 South Korea Biotech Market Breakdown
- Figure 6.46 Venture Investment in South Korean Biotech
- Figure 6.47 Selected South Korean Biotech M&A and Partnering
Malaysia
- Figure 6.48 Select Malaysian Partnering Deals
- Figure 6.49 Malaysian Biotechnology Statistics
- Figure 6.50 Malaysia Key indicators, 2005 - 2020
The Middle East
- Figure 6.51 Saudi Arabia at a Glance
- Figure 6.52 United Arab Emirates at a Glance
- Figure 6.53 Qatar at a Glance
- Figure 6.54 Kuwait at a Glance
Chapter 7: PHARMA REINVENTS ITSELF THROUGH M&A AND PARTNERING
- Figure 7.1 Total M&A Deals
- Figure 7.2 M&A Deals by Value Range
- Figure 7.3 Big Pharma M&A Transactions and Average Deal Value
- Figure 7.4 M&A by Target Company Type
- Figure 7.5 M&A Deals by Latest Stage of Product Development
- Figure 7.6 Biotech M&A Transactions and Average Deal Value
- Figure 7.7 Transactions with Earnouts by Deal Size
- Figure 7.8 Specialty M&A Transactions and Average Deal Value
- Figure 7.9 Median M&A Premiums by Acquirer Type
- Figure 7.10 M&A Deals by Primary Therapeutic Category
- Figure 7.11 Partnering Deals by Total Deal Value Range
- Figure 7.12 Leading Partnership Transactions by Potential Deal Values
- Figure 7.13 Partnering Deals by Primary therapeutic Category
- Figure 7.14 Average Total Upfront Payments by Stage of Development
- Figure 7.15 Number of Licensing Deals by Development Phase
- Figure 7.16 Partnering Deal Structures
- Figure 7.17 Deals with Development Options
- Figure 7.18 Industry Alliances: Numbers and Average Deal Values
- Figure 7.19 Industry Alliances: Numbers and Total Deal Values
- Figure 7.20 Partnering Deals by Big Pharma
- Figure 7.21 Partnering Deals by Biotechs
- Figure 7.22 Partnering Deals by Specialty Pharma
Chapter 8: A ROUGH RIDE ON THE ROAD TO RECOVERY
- Figure 8.1 U. S. Biotech Market Cap Changes During 2009
- Figure 8.2 U. S. Biotech Industry Market Cap
- Figure 8.3 Biotech' s Billion-Dollar Club
- Figure 8.4 Burrill Select vs. Dow Jones Industrial Average, NASDAQ and
Standard & Poor' s, 2009
- Figure 8.5 The Burrill Personalized Medicine Index
- Figure 8.6 Burrill Large-Cap, Mid-Cap and Small-Cap Indices, 2009
- Figure 8.7 Darlings and Dogs on Wall Street
- Figure 8.8 U.S. Biotech Financings for 2009 (USD M)
- Figure 8.9 Capital Raised by U.S. Biotechs, 1980-2009
- Figure 8.10 Select 2009 Follow-on Financings (USD M)
- Figure 8.11 Select Debt Financings Completed in 2009
- Figure 8.12 Select Pipe Financings Completed in 2009
- Figure 8.13 Select VC Financings Completed in 2009
- Figure 8.14 U.S. IPOs: Trying to Make a Comeback
- Figure 8.15 Biotech' s Six Cycles - Lengths of Droughts and Rallies in
Months
- Figure 8.16 U.S. IPOs - Not What They Used to Be
- Figure 8.17 U.S. Meditech IPOs: Total Dollars Raised
- Figure 8.18 Burrill Medical Devices Index 2009
U.S. INDUSTRY FINANCIAL DATA
- Reconciliation
- U.S. Public Biotech Companies Ranked by Market Cap
- Alphabetical Listing of U.S. Public Biotech Companies
Charts note: USD M = U.S. dollars in millions; USD B= U.S. dollars in billions
