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GEN’s editorial staff interviews life science academic and biotech industry leaders on important research, technology, and trends. These podcasts will keep you informed with all the important details you need.
With escalating R&D expenditures, a paucity of new drug approvals, increasing safety demands by regulators, and the loss of revenue to generics as patents expire on their blockbuster drugs, the pharmaceutical industry has turned its focus toward biotechnology. The business models that created value in the past are no longer effective in an increasingly risk-averse and competitive environment that includes governments focused on controlling healthcare costs, skittish investors, and demanding shareholders.
Strong economic growth in developing countries, a rising middle class, and increased access are fueling market demand for innovative medicines. As a result these countries are moving quickly to embrace biotechnology as a driver of economic growth.
During this week’s podcast G. Steven Burrill discusses these and other trends impacting the global biotechnology industry. Drawing upon 40 years of experience in the life science business, he takes a look at how the bioindustry has evolved over that time while citing the ups and downs experienced by any emerging industry. He talks about recurring themes that have been present throughout biotechnology’s evolution, and he points out those areas where the industry has fulfilled a host of expectations and notes where the biobusiness has come up short.
Burrill also shows how a convergence of technologies is beginning to make an impact on the way disease is diagnosed and monitored as well as how care is accessed and delivered. He tells us why biotechnology’s future will largely be defined by the practice of personalized medicine.
G. Steven Burrill is CEO of Burrill & Company, a San Francisco-based life science merchant bank with over $500 million under management. In 2002, Burrill was recognized as a biotech investment visionary by <em>Scientific American</em>. He currently serves as chairman of the boards of Icoria, Pharmasset, and Pyxis Genomics and is a member of the boards of Catalyst Biosciences, DepoMed, Galapagos Genomics, Targacept, and Third Wave Technologies. Prior to founding Burrill & Company in 1994, he spent 28 years with Ernst & Young, directing and coordinating the firm's services to clients in the biotechnology/life sciences/high technology/manufacturing industries worldwide.</p>