French biotechnology companies have 73 products in early-stage development and 98 drugs in clinical development, according to France Biotech. Ten drugs are awaiting market approval and four are on the market. Despite economic conditions and a weak IPO market, France Biotech expects French biotech firms to be able to obtain funding through alliances or mergers with drug companies. The creation earlier this year of the Euronext’s 26-company Next Biotech European stock market index has led to greater visibility for the industry. In the first half of 2008, French biotech companies raised $133.2 million in venture funding.

Source: Reuters