Biotech boom

Europe’s biotechnology industry is finally beginning to catch up with the US,
according to the international consultancy Ernst & Young. Ken Lee, coauthor
of Ernst & Young’s annual snapshot of the industry, says that the US, with
1287 biotech companies in April 1997, still has the lead, although this figure
represents a drop of 2 per cent on the previous year. But Europe is expanding
rapidly, boasting 716 companies compared to 584 the year before.