AUTHOR: ROBIN EISNER, pg. 5,17,25.
A poll of 166 biotech firms cites frustration with FDA and U.S. Patent Office as major concerns of companies
The typical biotechnology company regards the Food and Drug Administration's lengthy approval process for new drugs as the greatest barrier to success, according to a recent survey of 166 United States biotech firms. And if FDA isn't enough of a thorn in the side of the companies, U.S. Patent Office delays and a lack of management expertise are two other major factors the industry sees as preventing biotechnology from reaching its full potential, the survey reports.
The results of the study indicate, however, that companies do not consider state and local government regulations a major hindrance. And neither are four financing factors--venture capital, seed funding, public financing, and government research funds--perceived as significant obstacles by respondents.
The survey was conducted by the North Carolina Biotechnology Center,...