Statistics on the biotech sector provided in three reports released in June by investment bank Ernst & Young reveal a 17% growth in revenues to more than $46.5 billion, a 65% decrease in net losses to $4.6 billion, and a 16% trimming of research costs to $18.6 billion. The number of employees at the 611 public biotech companies grew by 9% to almost 200,000. The ranks of private biotech companies continued to expand to 3,860 globally. By 2003 year end, there were a total of 4,471 companies worldwide.
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Lawrence, S. State of the biotech sector. Nat Biotechnol 22, 798 (2004). https://doi.org/10.1038/nbt0704-798
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DOI: https://doi.org/10.1038/nbt0704-798