Intersecting with industries that not too long ago would have seemed quite disparate, the biotechnology industry has positioned itself as an increasingly strong, diverse, and sustainable force in the new century. This is according to Ernst & Young's recent 14th annual report on the state of the biotechnology industry, Convergence: E&Y's Biotechnology Industry Report, Millennium Edition ( The report focuses on the influence of convergence of various industries on biotech's market potential.

This convergence will lead to greater market stability by spreading the risk--and reward--of biotechnology to a broader range of possible uses, observes Douglas Obenshain, partner of Ernst & Young's Health Sciences Practice in San Diego. "For example, ten years ago virtually all biotech companies were focused on developing drugs and becoming fully integrated small pharmaceutical companies. While the potential rewards of such a strategy are high since drugs carry such high profit margins and can...

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