The cover of Ernst & Young’s 2016 biotech report has a picture of a parachutist and the subtitle, “Returning to Earth.” According to EY, the biotech industry has experienced explosive growth over the past few years, but that appears to have slowed in 2015. On its own, a 13 percent increase in biotech revenue looks impressive – unless it’s compared to the 18 percent increase in 2014.
So let’s take a few moments to dissect the report. Are biotechs descending, and if so, can we expect a soft landing?
There’s actually a lot of good news in the EY report. In addition to the 13 percent increase in revenue:
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