Industrial & Environmental
Dear Members,
We invite you to review this year’s edition of Milestones, the Biotechnology Industry Organization’s (BIO) annual report. In it, you will see that 2005 proved to be another successful year for the biotechnology industry. Our science and innovation is addressing key challenges in health care, energy, and agriculture, expanding the industry’s promise to improve the quality of life for patients and consumers.
Biotechnology companies have more than 300 drug products and vaccines addressing some 200 diseases in clinical trials. In addition, food and agricultural biotechnology is gaining increased acceptance among consumers throughout the world. In 2005, farmers planted the one-billionth cumulative acre of biotech crops.
Furthermore, industrial biotechnology is achieving commercialization and growing rapidly as our nation strives to be more self-sufficient in energy production. President Bush’s State of the Union speech singled out cellulosic ethanol as a viable and economic alternative to imported oil, prompting increased interest and investment in ethanol technology. Carmakers are exploring its use, major oil companies are exploring its development and states are seeking ways to increase its availability.
Overall, our companies attracted more than $20 billion in investment in 2005. This year promises to be even better as the market points toward another strong year of growth.
Importantly, this growth depends not only on cutting-edge science and forward-looking investors, but also upon a stable, predictable regulatory environment. Biotech companies need consistent and clear guidance from global regulatory agencies, particularly from the U.S. Food and Drug Administration and the European Medicines Agency as they continue to fulfill their mission to deliver better therapies to patients.
After a year of transition, BIO has built on its reputation as a world-class advocacy organization with one of the best policy and lobbying teams in Washington, D.C. We secured the passage of major legislation to provide the incentives, legal protections and $3.7 billion in appropriations to spur development of countermeasures that will help protect our nation from a pandemic flu outbreak. During the debate over drug safety, our voice was heard, protecting the drug approval process from onerous proposals. BIO also ensured that patent reform legislation did not undermine intellectual property rights. This year’s Milestones contains more details on our dynamic and successful year.
It is a privilege to support an industry that is discovering and developing the innovative products and technologies of tomorrow. Despite the unique challenges of each year, our mission remains the same: helping you deliver on the promise of biotechnology.
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James C. Mullen
Chairman
Biotechnology Industry Organization
President & CEO, Biogen Idec
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Jim Greenwood
President
Biotechnology Industry Organization
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