The Burrill Report: The Biotech Industry Braces For Obama (.MP3,18.16 Mb)

As the Obama administration takes over in Washington, the biotechnology industry is readying for a busy year on the legislative front. Ongoing fights over issues such as patent reform and biosimilars will continue, but new ones surrounding healthcare reform, the regulatory environment, and comparative effectiveness could dramatically alter the landscape for the industry. And, with the seizing of capital markets, the biotechnology industry is turning to Washington to help with a more immediate crisis as 300 publicly traded biotechnology companies— 75 percent of all public biotech companies – have less than one year of cash remaining, and 120 of those have less than six months cash on hand. We spoke to BIO CEO Jim Greenwood and BIO chairman Joshua Boger about what’s in store for the industry under the new administration.