Life science companies optimistic about 2008
A recent survey by Silico Research has revealed that executives in life science companies are optimistic about the prospects for their industry going into 2008.
The survey, which was undertaken in the last two weeks of 2007 among senior executives in biotechnology, pharmaceutical, medical device, diagnostic and other life science companies, revealed that most respondents see the prospects for the industry as being better in 2008 compared to 2007. A number of factors were seen by respondents as positive for the industry as a whole including the need for pharmaceutical companies to source an increasing proportion of their development and product portfolios from other companies in the sector. The major negative factors for the year ahead were the turmoil on the World's financial markets and the prospects of a Democratic President and Congress.
The financial turmoil and credit squeeze, on the other hand, were seen as drivers of increased alliance and partnering activity. So partnering was seen by respondents as becoming even more important to the sector in 2008 compared to 2007. Many of the respondents who rated alliances as equally important in 2008 compared to 2007 went on to point out that the rating reflected the fact that alliances were already of major importance to their organisation in 2007.
A summary of the results of the survey are available at http://www.jungle-health.com/biopharma.
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