Abstract
Biotechnology has raised great hopes of transforming the discovery of new drugs in recent years. The USA is leading the industrialisation of this field. Arguably, the UK is the next most important contributor, largely due to the excellence of British academia in the biosciences. In the 1990s, large investments were made in UK biotechnology companies in the expectations that rapid profits would be made. The last few years have seen disappointment and greater realism about the timescales for these new technologies to have major impact. The relationship between the innovative, but immature, biotechnology sector in the UK and the multinational pharmaceutical companies (Pharma) is explored with a view to predict the future of the UK biotech sector and any structural changes which may lie ahead. The biotechnology sector in the UK is found to require considerable consolidation to ensure that it has a viable future. Many companies are likely to experience turbulent times. The critical issues, which must be addressed, are how to establish relationships with major players and how to secure sufficient investment, to fund the very expensive R + D which is intrinsic to the industry and which does not yield profits for many years.
Get full access to this article
View all access options for this article.