Top biotechnology officials say the findings portend the future health and expansion of the industry, which, they say, should mean continued demand for research scientists at these companies.
"The ante is increasing.... Salaries and bonuses have swung into gear,<170> says Glenn Cooper, chief executive and president of Interneuron Pharmaceuticals in Lexington, Mass. Biotech companies' top executives, Cooper says, wouldn't be so highly compensated "if there wasn't a belief that biotech was going to be a driving force in providing new drugs."
For its survey, J. Robert Scott received responses from more than 400 executives in 120 biotech companies across the United States during the fall of 1992.
More than half of the companies responding to the survey reported employing fewer than 50 people, and most were between six and 10 years old. Sixty-nine percent reported revenues of $5 million or less, and only one company, Amgen Inc. of Thousand Oaks, ...
