Are biotech and pharma companies doing well, or falling apart at the seams? People will have differences of opinion on this, but one thing is clear: it’s all relative.
At a speech to a trade group in Philadelphia last month, James Greenwood, president of the biotechnology trade group BIO, asked the government to stop picking on the pharma industry. “The drug industry has laid off more workers than the auto industry, but they get bailed out while we’ve continued to get picked on,” he declared. Unfortunately, Greenwood’s comparison of the auto and BioPharma industries was well meaning but seriously misguided. I looked up the profitability of the Big Three auto companies and compared it to three of the largest, US-based pharma companies over a five-year period.
To read the full, original article click on this link: Biopharmaceuticals: Nothing Compares to You | Xconomy
