France Biotech, the country's life sciences association, has released its report detailing the results of its annual survey. The trends? According to survey results, we can expect several deals or mergers between French biotechs and pharma companies within the coming months. And despite the global financial crisis, industry execs are optimistic that there will also be more acquisitions, investments and IPOs. "My bet is that next spring we will see a rally of investments turning to companies that can create a future, are truly innovative," France Biotech chairman Philippe Pouletty said.
In the first half of this year, venture capitalists injected $98 million into the biotech industry. Only one company--Ipsogen--managed an IPO. There were 15 in 2007.
Pouletty, who also heads venture capital company Truffle Capital, expects Sanofi-Aventis to be among the drugmakers pulling in biotechs to help expand its pipeline and make up for revenue lost to patent expirations and generic competition.
Speaking of pipelines, the survey results indicate that French biotechs have 73 products entering the research phase and 98 experimental drugs in mid and late-stage in clinical development phases. Ten biotech products are awaiting marketing approval, including BioAlliance Pharma's Loramyc and Addmedica's Siklos, with four currently available to patients.
- check out the France Biotech release
- get more on the survey results from the Guardian
ALSO: The French pharmaceutical industry seems to be in the throes of huge changes as global pressures hit home. French pharma appears to be seeking the best of both worlds: new, internationally trained management, while maintaining as much family/French control as practically possible. We'll see how they fare. Report