Biotechnology: Industry Analysis
Biotechnology Industry Analysis Assignment
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Define the industry
Description The biotechnologynology industry as described by the Standard and Poor’s is both a product and a service. Their category includes biotechnology drug developers and marketers, diagnostic companies, firms in agricultural biotechnologynology and animal health, entities that produce instruments, suppliers for drug research and global biotechnology issues trading on U.S. stock markets. Biotechnologynology is focused under the “biochemical science to large-scale production, for the purpose of modifying human health, food supplies, or the environment.” The biotechnologynology industry involves alteration of genetic material. Biotechnologynology’s larger focus involves production of medication and research that involves new and improved drugs. The industry itself can be very profitable but as you will discover there are many factors that involve becoming a major player.
Product Value Chain The biotechnologynology industry has many raw material suppliers that function within the industry but also marketers and research companies as well. Research and development is critical to the success of a drug developer. In 2000, Ernst and Young estimated that the public firms spent 10.2 billion dollars on research and development. Research can be done on or off-site for the drug developers. Once a drug has been approved by the FDA, companies such as Scios, which was recently bought out by Johnson and Johnson, will market the new product. In some cases, developers of new medications or biological advancements utilize outside companies to market for them so that to concentrate resources elsewhere.
Industry Scope Chart The scope for the biotechnologynology industry is biochemical science for improvements in a variety of categories that I previously mentioned. The narrow scope of this industry is the agricultural, pharmaceutical and animal health
[pic][pic]
[pic]
Define the industry
Description The biotechnologynology industry as described by the Standard and Poor’s is both a product and a service. Their category includes biotechnology drug developers and marketers, diagnostic companies, firms in agricultural biotechnologynology and animal health, entities that produce instruments, suppliers for drug research and global biotechnology issues trading on U.S. stock markets. Biotechnologynology is focused under the “biochemical science to large-scale production, for the purpose of modifying human health, food supplies, or the environment.” The biotechnologynology industry involves alteration of genetic material. Biotechnologynology’s larger focus involves production of medication and research that involves new and improved drugs. The industry itself can be very profitable but as you will discover there are many factors that involve becoming a major player.
Product Value Chain The biotechnologynology industry has many raw material suppliers that function within the industry but also marketers and research companies as well. Research and development is critical to the success of a drug developer. In 2000, Ernst and Young estimated that the public firms spent 10.2 billion dollars on research and development. Research can be done on or off-site for the drug developers. Once a drug has been approved by the FDA, companies such as Scios, which was recently bought out by Johnson and Johnson, will market the new product. In some cases, developers of new medications or biological advancements utilize outside companies to market for them so that to concentrate resources elsewhere.
Industry Scope Chart The scope for the biotechnologynology industry is biochemical science for improvements in a variety of categories that I previously mentioned. The narrow scope of this industry is the agricultural, pharmaceutical and animal health