Est. 1min 28-04-2001 (updated: 05-11-2012 ) Euractiv is part of the Trust Project >>> Languages: Français | DeutschPrint Email Facebook X LinkedIn WhatsApp Telegram Ernst & Young report calls for pan-European regulatory environment to strengthen the biotechnology sector The European biotech industry is becoming more and more competitive. However, some basic issues still need to be tackled, according to the report. Ernst & Young says that the industry’s turnover increased by 38 percent to 8.7 billion euro, and R&D expenditure climbed by 48 percent to 5 billion euro. The number of European biotech companies increased by 16 percent to 1570 in 2000, which is 300 companies more than in the USA. Read more with Euractiv Ministers start debate on future of EU Fisheries policyEU Fisheries ministers launch debate on future of Common Fisheries Policy (CFP) during Council meeting in Luxembourg on 25 April Subscribe now to our newsletter EU Elections Decoded Email Address * Politics Newsletters Background A new report on the European biotechnology sector by management consultants Ernst & Young reveals that it has closed the gap on its US competition. The number of European biotech companies reached a record level in 2000. TimelineThe report is also upbeat on the future of the European biotech industry: 60 percent of the quoted European biotech companies have enough liquid assets to last them for four years. However, the average market capitalisation through public offering of European companies is only 60 percent of the US biotech companies. Ernst & Young recommends setting up a pan-European high tech stock exchange to foster investment and improve the basic conditions for the European biotech industry. The report also calls for a European-wide science strategy than would allow better control over research projects. Such a pan-European regulatory environment should consist of uniform taxation policies, standards, patents and price strategies for medicines, says the report.
