IMS forecasts worldwide pharmaceutical sales to increase 4.5%–5.5%, in 2009, the same as 2008’s growth, to more than $820 billion. Oncology products will drive growth, with sales expected to increase 15%–16%. Also driving sales growth will be HIV therapies, which are forecasted to grow 13%–14%, and biologics, which are expected to grow 11%–12%. Sales of […]
A total of 633 biotechnology medicines for more than 100 diseases are currently in development, according to the Pharmaceutical Research and Manufacturers of America (PhRMA). By therapeutic category, with some medicines counted in more than one category, the number of biotech medicines in development for cancer and related conditions, at 254, and infectious disease, at […]
Donations to charities and other nonprofit institutions that fund medical research could be at risk due to the economic crisis. According to the Center on Philanthropy at the University of Indiana, the level of donations made to charities correlates with the fortunes of the stock markets, but any effects from the current crisis would not […]
A recent report prepared by the US Government Accountability Office (GAO) found that the FDA’s monitoring of fresh produce is deficient. In fiscal 2007, the FDA spent a minimum of $20.2 million, approximately 3% of its food safety expenditures, on fresh produce oversight. The FDA’s Office of Regulatory Affairs accounted for 82% of this spending, […]
According to Hydrocarbon Processing’s HPI Construction Boxscore Survey, the total number of hydrocarbon projects worldwide grew 12% between June 2007 and June 2008 to 5,029. Rising the fastest were the number of synfuel projects, which grew 15%, while gas processing projects increased 15% and refining projects rose 11%. All other projects grew 26%. However, the […]
Point-of-care testing (POCT) is contributing to the growth of the diagnostics product market. In the first six months of this year, the FDA approved 152 POC tests. InteLab estimates that POCT represented 35% of the in vitro diagnostics market in 2005 and that, by 2011, it will account for 41%. In 2005, the market for […]
This month, the FDA issued draft guidance on regulating genetically engineered animals (GE) for a 60-day comment period. A GE animal contains a heritable recombinant DNA (rDNA) construct that gives it new traits or characteristics. GE animals include animals that produce pharmaceuticals, industrial or consumer products, as well as animals used as human disease models […]
New rules for labeling fresh produce and meat by country of origin went into effect in the US on September 30. Manufactures have six months to comply with the rules. However, loopholes in the law exempt processed foods and mixed vegetables. In addition, labels on meat cuts can show more than one country of origin. […]
Equity investments in biotech companies fell 68% to $5.9 billion in the first half of 2008 compared to the first half of 2007, according to Recombinant Capital. The biggest decline was among public offerings, as only one biotech firm went public. Private offerings for public companies declined 76% to $2.8 billion, while offerings for private […]
The Broad Institute of Harvard and MIT received a $400 million endowment from Eli and Edythe L. Broad to permanently establish the Institute as a nonprofit organization. Founded in 2004, the Institute was initially created as a venture experiment with $100 million in funding from the Broads, who donated an additional $100 million in 2005. […]
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IBO (Instrument Business Outlook) is a twice-monthly newsletter aimed at providing decision-makers with the latest and most complete information available on the life science and analytical instrument industry, and lab product markets. IBO delivers the latest curated industry news, information and trends, as well as SDi data and analysis to deliver the maximum in industry insight with a minimum time investment for executives and investors.
