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.

Credit: Source: Ernst & Young
Credit: Source: Ernst & Young
Credit: Source: Ernst & Young
Credit: At public companies. Source: Ernst & Young
Credit: Source: Ernst & Young