Blossom Associati and Assobiotec report that since 2000 the Italian biotech industry has grown 7% on average, adding about 15 new companies per year. Sales of Italian biotech products and licensing operations have reached $5.5 billion, or 0.04% of the Italian GDP. From 2006 to 2007, the value of the country’s biotech market increased 19.3%. Blossoming only recently due to a lack in federal research funding and problematic patent protection, Italian biotech companies, of which 33% are located in the Lombardy region, are primarily research based, with a third of their workforce dedicated to R&D and a total of $1.75 billion spent on R&D in 2005. The industry is composed of 222 firms in 2007, with only 27 companies employing more that 250 people. These 27 companies also generate 80% of Italy’s biotech revenue and employ 80% of its workers. Red biotech companies (medical/pharmaceutical biotech applications) account for 94% of Italy’s biotech revenues in sales or licensing. There are currently over 40 products from Italian biotech firms in advanced development, seven of which are in phase 3 of development.

Source: US Commercial Services