BOSTON, MASS. – (June 19, 2012) – The Biotechnology Industry Organization (BIO) today hosted two former Secretaries of the U.S. Treasury, Robert E. Rubin and Henry M. Paulson, Jr., during a luncheon keynote session where they discussed the current state and future prospects of the global economy.
The event held at the Boston Convention and Exhibition Center was a part of the 2012 BIO International Convention the world’s largest biotechnology event, which is expected to attract more than 15,500 attendees from 48 states and 65 countries. BIO President & CEO Jim Greenwood moderated the discussion, tackling vital issues such as the present global economic trials facing the European sovereign debt crisis, the need to balance austerity and growth, and how such challenges and public policy reactions will affect biotechnology innovation and investment in the coming years.
Global economic developments impact all facets of the biotechnology sector, from startups seeking the next funding round to the largest multinational planning its growth strategy for the years to come. Small- and medium-sized biotech companies also continue to face challenges in accessing the necessary capital required to bring their innovative cures, breakthrough medicines, cleaner fuels and more efficient and environmentally friendly agriculture technologies to market.