Venture capital investment in the life sciences has fallen 39 percent over the past three years as the costly, lengthy process of getting approval for pharmaceuticals from the Food and Drug Administration has spurred companies to shift their investments to overseas markets in Europe and Asia.
According to the survey of 150 venture capital firms, more than 40 percent of companies have slashed investment in biopharmaceutical companies and another 42 percent cut investment in medical device companies. More than half of the companies surveyed said they expect to increase their investment in healthcare IT companies.
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Author:Stephanie Baum
