Biotech Sector Losses Continue to Rise

Since researchers first mixed together genes from two species more than a quarter century ago, biotechnology companies have promised to revolutionize the pharmaceutical industry, and even disrupt centuries of farming practices. Despite that promise -- and some very significant breakthroughs in treating cancer, diabetes and other widespread and deadly diseases -- the industry's combined losses continued to mount last year. The biotechnology industry lost a combined US$6.4 billion last year, according to a new report from Ernst & Young. The industry's total accrued loss since its birth in Silicon Valley in the mid-1970s is more than US$45 billion.

()a href="http://www.taipeitimes.com/News/worldbiz/archives/2005/06/06/2003258214" target="_blank">Taipei Times