Abstract
Sea change: Noun: a striking change, as in appearance, often for the better
Biotech 2009-Life Sciences: Navigating the Sea Change is the 23rd edition of
this yearly publication. It provides a compass to guide you through the
current financial market turmoil. The 400-plus page book contains analysis and
perspectives on the performance of the industry in 2008 and projections for
2009 and beyond.
The biotech industry has had nearly 40 years of easy access to inexpensive
capital. The capital markets have permanently restructured, making access to
capital more difficult and expensive to access.
The changes mean:
- Buy-side interest and resources are reduced.
- Venture capitalist and private investors no longer can rely on IPOs for
exits.
- Big Pharma is not as eager to make deals. As these companies see it,
technology will be cheaper to buy if they wait.
- Falling oil prices may slow the momentum for alternate fuels.
These issues will be discussed in depth in the following chapters:
- 1. Navigating the sea change: An overview of the challenges ahead.
- 2. Industry Metrics: Burrill & Company' s critical statistics on the
life sciences, presented in a clear and easy-to-use format.
- 3. Healthcare: The cost of health, trends in healthcare delivery,
ideas for reform including electronic health records and personal health
records, large cap biotech and pharma industry models and metrics
- 4. Personalizing Medicine: Systems biology, biomarkers and
diagnostics, personalized medicine, targeted therapies, genomics, and
combination devices.
- 5. Wellness: Healthful foods and eating; prevention of sickness;
corporate takeover of prevention (wellness tied to healthcare), uptake of
personal genomics and social networking for wellness.
- 6. Emerging Technologies: Stem cells and regenerative medicine,
nanomedicine, RNAi, whole genome scanning and implantable sensors
- 7. Politics and Policy: Healthcare, U.S. Food and Drug
Adminstration, and Centers for Medicare & Medicaid Services, what the new
administration portends, patent reform.
- 8. Agbio/Biofuels/Industrial Biotech/Cleantech: Next generation
biofuels, feedstocks, enzymes and crops. The publication also includes a
detailed analysis and charts on:
- 9. International: Profiles and initiatives of the expanding life
sciences industry in Canada, Europe, China, India, Malaysia, Latin America,
Middle East.
- 10. M&A/Partnering: Dealmaking around the globe.
- 11. Finance and Capital Markets: Performance of biotechnology
companies on the capital markets and analysis of 2008 fundraising.
- Total Global Industry Financings
- By Public Companies
- By Private Companies
- By Therapeutic Class
- Industry Market Cap
- Global Industry Financials
- Revenues
- Research and Development
- Profit (Loss)
- Cash and Cash Equivalents
- 2008 Partnering deals
- 2008 Mergers & Acquisitions
PLEASE NOTE: THIS IS A SPECIAL PRE-PUBLICATION PRICE FOR A PDF VERSION
OF BIOTECH 2009 - LIFE SCIENCES: NAVIGATING THE SEA CHANGE. THIS FILE IS
EXPECTED BE AVAILABLE FOR DOWNLOAD FEBRUARY 11, 2009.
Table of Contents
Chapter 1: Sea Change
- Old Rules, New Rules
- Targeted therapies will be key to success
- Pharma becomes the only game in town
- Global arbitrage provides opportunities
- Companies will find a new way to finance
- A premium is placed on effectiveness
- Capital Markets
- Prices will be bargain basement
- Healthcare
- Medicine enters the genomic era
- Technology drives healthcare innovation
- Several forces could be a drag on new technologies
- Healthcare providers rethink delivery
- Stem Cells
- Regulatory Climate
- Follow-on biologics legislation is expected
- The Environment
- Obama will boost biofuels
- Biotechnology becomes truly global and the future is good
- Burrill's A,B,C's for navigating the sea change
- Burrill's Predictions for 2009
Chapter 2: Industry Metrics
- Markets
- More mature companies weather the period
- Big Pharma
- Big Biotech
- Industry Sales
- Biotech Financing
- Partnering
- At a Glance
Chapter 3: Healthcare
- The drug industry is under the politcal microscope
- A long laundry list grows longer
- Healthcare delivery has a turbulent year
- Drug spending
- Spending on biologics grows
- Competition is increasing
- Innovation
- First-of-kind product approvals increase
- Few approved drugs seen as potential blockbusters
- Global
- There is slowing growth in mature markets
- “Pharmerging” markets see rapid expansion
- There is an emphasis on specialist-driven markets
- Generics market continues to evolve
- Payor actions in Europe could pressure markets
- Biotech Drugs
- Pharmaceutical Products
- State of Health
- Non-communicable conditions rise globally
- Cancer will become the world's No. 1 killer
- HIV/Aids outlook is better in the United States than globally
- Chronic illness is a key driver of U.S. health problems
- U.S. bill of health is mixed when compared with other countries
- The United States spend the most per capita on healthcare
- State of Healthcare
- Primary physician shortage is a growing problem
- Healthcare Spending
- Prescription drug spending grows more slowly in 2007
- Insurance Coverage
- The cost of coverage continues to rise
- Large employers provide best coverage
- Lack of coverage leads to catastrophic healthcare costs
- Healthcare Reform
- Income-based subsidy for uninsured is discussed
- Obama reform hits a speed bump
- Comparative effectiveness remains controversial
- U.S. public seems broadly in favor of major overhaul
- Healthcare Companies
- Insurer stocks fall at least 50 percent
- Pharmacy benefits managers outperform market
- Many companies could benefit under Obama Administration
- Alternative Delivery
- Healthcare systems are getting into the retail clinic game
- Employers expand onsite health clinics
- The “medical home” model gains currency
- Boutique medicine rises in popularity
- Telehealth becomes more widespread
- Teleradiology gains in acceptance
- Digital pathology has a strong year
- Healthcare Information Technology
- Feds give healthcare IT grants to physicians
- States and companies pick up the slack
- Personal health records gain traction
- DOD takes a fancy to personal health records
- E-prescriptions get a boost
- Web solidifies importance as source of health information
- Europe's healthcare IT efforts are mixed
- Outlook for 2009
- Companies face a difficult year
- Medical devices are a bright spot
Chapter 4: Personalizing Medicine
- Pharmaceuticals
- Companies begin to see advantages to linking tests with new drugs
- Return on Investment
- Pairing diagnostics with therapies could enhance physician relationships
- Quantifying personalized medicine's ROI becomes key
- Scientific Developments
- Researchers go gene hunting
- Researchers look into why some fend off HIV infection
- Investigators mix and match cancer drugs
- Genetic risk factors for obesity are indentified
- Genetic variants in six genes are strongly associated with BMI
- Comparative Genomics
- Researchers look into what makes a Panda
- Europe looks for biomarkers
- Pfizer looks to personalized medicine
- Merck gets in the game
- Bristol-Myers Squibb partners with molecular diagnostics company XDx
- Evidence-based healthcare offers important solutions for better health
- Business and Finance
- Affymetrix gets some good news
- Illumina sees continued growth
- Inverness continues acquisition spree
- Inverness strikes distribution deal with PrognostiX
- Shares of Hologic fall
- Luminex shares post positive gains
- Monogram expects healthy growth but shares dive
- Genomic Health teams up with Pfizer
- Diagnostics companies succumb to tough economy
- Sequenom revenues increase
- Myriad Genetics launches another molecular diagnostic product
- Prezeon analyzes protein expression by immunohistochemistry
- Myriad plans a spinoff of its R&D business
- Diagnostics companies have difficult year
- Cepheid gets FDA approval for skin infection test
- Companion Diagnostics
- New prostate cancer diagnostics in the works
- Biomarker research for lung cancer advances
- Partnering and M&A
- Landmark research collaborations take place
- Study launches to look at personal genetic testing
- FDA seeks to provide genomics insights
- bioMerieux goes on a buying spree
- Consumer Genomics
- Infrastructure built to accelerate consumer-based breast cancer research
- deCODE Genetics helps provide relevant medical associations
- Navigenics offers a whole genome scan
- DNA Direct closes additional financing
- The first for-profit company offers whole genome sequencing
Chapter 5: Wellness
- Major Trends
- Consumers redefine quality
- Better quality of life is a main goal
- Market Performance
- Whole Foods suffers as consumers curb spending
- Mergers and Acquisitions
- Coca-Cola makes bid to expand in China
- Regulatory Matters
- Nanotechnology in food raises hopes and concerns
- Healthy Aging
- Scientists seek to unlock the secrets of the “Wellderly”
- Companies pursue life-extending elixirs
- Company screens drugs for brain-growing power
- Exercise for brain health gains currency
- Cosmeceuticals continue to grow
- Wellness
- Employers are taking the lead
- Information Technology
- Food and Nutrition
- Natural and organic food continues to grow
- Condition-specific supplements are booming
- Combining OTC drug and herbal supplements raises controversy
- Anti-cancer supplements are growing
- Probiotics market explodes
- Functional Foods
- Energy drink sales show vitality
- Obesity
- Biotech and pharma continue search for the skinny pill
- Research moves forward
- There is new hope for leptin in fight against obesity
- Personal Genomics
- Landmark study will assess personal genetic testing
- Integrative Medicine
- Looking Ahead
Chapter 6: Emerging Technology
- Developers face new pressures
- Big Pharma steps up to the plate
- Regeneration Gap
- FDA gives Geron a green light to begin clinical trial
- Several therapies make it to clinic
- Genzyme and Osiris sign blockbuster deal
- Researchers harness the power of regeneration
- Therapeutic cloning can be used to fight neurodegeneration
- Human neural stem cells transplantation believed to rescue congenital
brain disorder
- Human embryonic stem cells may lead to diabetes treatment
- Regenerative medicine is a real business today
- War spurs development of regenerative medicine
- Gene Therapy
- Experimental gene therapy in HIV/AIDS reports positive safety results
- A stable and scalable gene therapy platform is developed
- A gene therapy treatment for Hemophilia B is in the works
- There is hope for neurodegenerative disease patients
- Other players pursue gene therapy for neurodegenerative disease
- Blindness is another gene therapy target
- Cancer-fighting gene delivered to normal brain tissue
- Zinc finger proteins represent new approach in gene modification
- RNAi technology continues to attract big dollars
- There is a significant “de-risking” for RNAi
- MicroRNA moves into the spotlight
- microRNAs can be a powerful diagnostic tool
- First commercially available microRNA-based diagnostic test is launched
- Blood tests predicting response to ovarian cancer treatment are in
development
- Researchers are focusing more on MicroRNAs
- Countering Aging
- Interest in anti-aging therapies sparks M&A
- Vaccines: A New Approach
- DNA vaccine for Type 1 Diabetes is sought
- Cancer vaccines remain challenging, but there's hope
- Personalized, anti-cancer vaccine makes progress in trials
- Genomics
- A $10,000 whole-genome scan is in sight
- Complete Genomics predicts it will become first large-scale human genome
sequencing
- Getting Personal
- Genetics-based infrastructure is expected to accelerate disease research
- Companies increasingly work with physicians
- The behavioral impact of personal genetic testing is examined
- Nanotechnology: A Small Revolution
- Diagnostics increasingly incorporate nanotechnology
- A European team develops nanotechnology biosensor
- Medical Devices: Implantable Sensors
- Implantable cardioverter defibrillator wins approval from European
regulators
- New materials help solve implantable sensor problems
- Synthetic Biology
- Amyris reaches a milestone towards commercialization
- Amyris' technology platform is applied to sugarcane
- Synthetic biology is being used to produce proprietary biofuels
- Outlook
Chapter 7: Politics and Policy
- Report finds FDA can't fulfill its mission
- Industry calls for more money for its regulator
- Heightened safety concerns are not reflected in warnings and recalls
- Food Safety
- FDA moves to establish offices in five foreign regions
- Follow-on Biologics
- Lack of U.S. approval pathway delays a follow-on biologics market
- Bioactivity plays a role in determining follow-on version
- Patent Reform
- BIO fights against patent reform legislation
- Direct-to-Consumer Advertising
- Pharma trade group adopts new voluntary ad guidelines
- Congress promises a watchful eye
- FDA Advisory Committees
- New policy calls for limiting financial conflicts of interest
- Genetic Non-Discrimination Act
- Act prevents genetic discrimination by employers and insurers
- Comparative Effectiveness
- Senate introduces Comparative Effectiveness Research Act of 2008
- A comparative effectiveness institute would set research agenda
- Industry organizations support comparative effectiveness research
- Experts say comparative effectiveness must examine all healthcare system
components
- Personalized medicine and evidence-based medicine come together
- Information Technology
- Preemption
- Preemption issue remains in play
- Genetically Engineered Animals
- Stem Cells
- NIH Funding
- Farm Bill
- Medicare
- Mental health coinsurance rates are lowered
- Medicaid is subject to a redesign
- Medicaid is under pressure to reduce spending
- State Children's Health Insurance Program gets a boost
- International Developments
- The continent proposes to relax a drug repackaging ban
- EU sets up panel to look at innovative new treatments
- Germany's lawmakers ease restrictions on stem cell research
- Canada moves toward new drug approval process
- Policy Changes
- There is attention deficit disorder in D.C.
Chapter 8: BioGreenTech
- Sustainability
- Food Security
- Biotech crops lead to environmental gains
- Energy Security
- The era of cheap oil is over
- United States is likely to miss alternative fuel targets
- Environmental Security
- Recent improvements lead to greater greenhouse gas reductions
- Global warming spurs change in policies
- Policy backs biofuel development
- Consumer sentiment backs renewable energy
- Cap-and-trade is a key part of Obama plan
- World gets serious about biofuels targets
- China eyes cap-and-trade system
- Biogreentech Companies
- China sees increased investment in cleantech
- Cellulosic biomass conversion companies draw attention
- Funding tapers off in the end of 2008
- Cleantech investing is expected to be flat in 2009
- Advanced biofuels continue to attract capital
- Carmakers and big oil invest in alternative energy
- Industrial biotech and biofuel companies have a bumpy ride
- Joint ventures are the norm in renewable energy field
- Verenium moves forward with commercialization of cellulosic ethanol
- Funding for new ethanol projects appears stalled
- Biofuels partnering remains strong
- Select biofuels partnering highlights from 2008 include
- India invests in biofuels
- Malaysia and Indonesia cooperate in palm oil deal
- Agbiotech Companies
- Agbiotech company shares reflect market vulnerability
- Monsanto experts R&D investment to pay off
- Sygenta makes several deals
- DuPont sees increase in agriculture and nutrition sales
- Global farming boom boosts Bayer Crop Science
- Dow sees big business in biotech and seeds
- BioGreenTech Innovation
- Engineered traits are seen as the future
- Developing crops for biofuels is a growing research area
- Biotech crop adoption continues to grow
- Resistance to biotech crops softens
- Many European countries increase GM crops
- India's adoption of Bt cotton appears to be a success
- China moves cautiously on biotech crops
- Australian states lift bans on transgenic crops
- Advances in plant genomics facilitate breeding strategies
- Genomics is being used to make better energy crops
- Biofortification gains steam
- Next-generation biofuels advance
- Gasoline from algae receives growing interest
- Non-food crops are a growing source of feedstock
- Enzymes play a growing role in biofuels
- Designer microbes help produce fuels with higher energy content
- Soil bacterium is being looked at for isobutanol production
- Alternative energy projects get government backing
- Federal financing comes at a necessary time
- Green Chemistry
- Biocatalysts
- Integrated Biorefineries
- Bioplastics
- Looking Ahead
Chapter 9: International
- Europe
- Mergers & Aquisitions
- Sanofi-Aventis takes over Acambis
- U.K. biotech appears to be contracting
- Some investors are disappointed
- Financing
- Genmab halts development of lymphoma drug
- Deal-making is crucial but is it possible?
- Reverse mergers may come more into style
- Regulatory Changes
- Denmark
- Product Pipeline
- Venture Capital
- Clinical Research
- Europe Outlook 2009
- Canada
- MethylGene's market cap falls to $10 million
- Vasogen suffers a setback
- Companies consider their strategic options
- M&A reduces number of Canada's elite companies
- ViRexx finds itself short of funds
- With IPO window closes, OncoGenex uses reverse merger
- Companies leverage lead products for cash
- Aterna Zentaris raises more than $50 million
- Oncothyreon Restructures
- Canadian biotechs search for financing
- Venture capital does flow
- Sea change will take its toll on Canadian biotech
- Federal budget disappoints biotech sector
- It is a buyer's market
- Australia
- Many listed companies face demise
- Capital inflows dry up
- Biotech sector suffers a variety of setbacks
- Companies make key filings with the U.S. Food and Drug Administration
- Acrux launches spray for treating menopause
- Many companies with weak management are expected to disappear
- There are 17 profitable companies in the sector
- China
- Healthcare Reform
- Globalization
- Mergers and Acquisitions
- Foreign companies continue to make acquisitions
- Private Financing
- VCs invest in emerging healthcare players
- Private equity investment picks up
- Partnering and Licensing
- Domestic companies seek out partnering opportunities
- Outlook
- Japan
- Deals
- Takeda acquires Millennium
- Shionogi acquires Sciele
- Initial Public Offerings
- Stem Cell Research
- Nutraceuticals
- Healthcare
- South Korea
- Equity Markets
- Public Investments
- Private Investments
- Stem Cells
- Innovation
- Partnering and Licensing
- Clinical Trials
- Outlook
- India
- Biotech industry
- Global generics market is off pace
- Biopharma remains the main revenue generator
- Healthcare industry
- Declining consumer spending is seen affecting growth
- Government
- Government backs biotech parks
- Growth Opportunities
- Second-tier cities may help fuel growth
- Biopharmaceuticals industry gains steam
- Affordable vaccines are a key market
- Biosimilars are expected to become highly profitable
- Medical devices have high growth potential
- Medical tourism is attracting more U.S. patients
- Indian companies are spinning out their R&D
- The need for a strong R&D base is increasing
- U.S. healthcare reform could boost India's BIO-IT
- The clinical research organization appears immune to recession
- Future Outlook
- Markets
- Private equity continues to invest in India
- Investors seek best growth areas
- Initial Public Offerings
- Cross-Border Deals
- Mergers and Acquisitions
- Two record acquisitions take place
- Valuations see a big drop
- Domestic acquisitions increase with softening market
- Partnering
- Life Sciences and Healthcare Indices
- The Burrill India Healthcare Index outperforms
- Malaysia
- Government Support
- Pharmaceuticals
- Pharma market is seen growing at a good clip
- Medical Tourism
- Generics
- Herbal and Traditional Medicines
- Export Market
- Contract Research and Manufacturing
- Stem Cells
- Biofuels
- Looking Ahead
- Latin America
- Argentina
- Health Sector
- Agriculture
- Food Processing
- Human Health
- Biofuels
- Export Potential
- Brazil
- Biofuels
- Airplanes are being designed with flex engines
- Chile
- Middle East
- Saudi Arabia
- United Arab Emirates
- Dubai
- Abu Dhabi
- Mubadala Healthcare seeks to build a healthcare infrastructure
- NeoBiocon launches breast cancer treatment in UAE
Chapter 10: M&A/Partnering
- M&A
- GlaxoSmithKline makes headlines with Sirtris takeover
- Average biotech deal value declines
- King's Alpharma buy marks biggest specialty deal
- Big Pharma and diagnostics companies pay highest premiums
- Cancer, CNS, and diagnostics companies are top targets
- Licensing
- GlaxoSmithKline does three large licensing deals in 2008
- Big Pharma-licensee deals increase in value
- Large specialty pharma licensee deals rise in volume
- Phase I transactions nearly double
- Cancer and central nervous system are the hot therapeutic areas
- Outlook
Chapter 11: Finance and Capital Markets
- Equity Performance
- Burrill Small Cap Biotech Index drops 43 percent
- Big Pharma scoops up deals
- Larger companies weather the storm
- Amgen and Genentech get back on track
- Biotech share valuations take a beating on Wall Street
- The billion-dollar club shrinks
- The big get smaller
- The number of microcap companies grows
- Financing
- U.S. biotech raises the bulk of the funds
- Alternative financings gain in popularity
- Global financing environment deteriorates dramatically
- Initial Public Offerings
- Alternative Financing
- The Debt Market
- Venture Capital
- Medical Devices
- Device innovation continues despite downturn
- Medical devices IPOs dwindle in 2008
- Medtech mergers and acquisitions remain active
- Medical devices venture capital investment remains robust through the
first half of 2008
- Life Sciences Outlook
- Medical devices outlook is mixed
- Industry Financial Data
Chapter 12: About Burrill & Company
- Burill Venture Capital
- Burrill International
- Advisory Boards
- Large Corporate Limited Partners
- Portfolio Companies
- Burrill Private Equity
- Burrill Merchant Banking
- Burrill Media
|
相關報告
|
