Recent Activities in the Biotechnology Industry Sector Essay

1785 Words Jan 30th, 2008 8 Pages
Review of Recent activities in the Biotechnology Industry Sector :
Focusing on Pharmaceuticals and the Company GlaxoSmithKline

Biotechnology can be defined as the industrial application of living organisms or biological techniques developed through basic research . One type of product derived from these techniques is pharmaceuticals. Many pharmaceutical companies exist globally and produce mainly human health related products such as medicines, vaccinations and dental care products. Due to the nature of the products being produced in the market, the speed at which new technological breakthroughs affect new products and the high levels of competition within the market, the biotechnological pharmaceutical sector is an extremely
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In the near future we could see a massive growth in a companies sales and profits if any companies are able to use this technology to produce the highly demanded insulin pill. In general the biotechnological pharmaceuticals industry is looking very strong. High levels of turnover, profit and growth in the market can be displayed by the forecast beating results produced from two of the sectors market leaders. AstraZeneca's operating profits for the third quarter of this year were up 49% to £952million, while competitor GlaxoSmithKline's profits were up 19% to £1.7billion . It puts this increase down to strong sales of asthma and diabetes drugs. However continued growth in sales and profits over the next year looks likely for the company as it has developed a new vaccine for the strain of bird flu threatening to cause a global epidemic.

GlaxoSmithKline

The company was founded in 1873 by Joseph Nathan as an import-export business in New Zealand. He then obtained the rights to a process for drying baby milk and sold it as baby food Glaxo. The company went public in 1947 when it began producing penicillin, however a steep drop in antibiotic prices in the mid-1950's led the company to diversify in to medical instrument and drug distribution firms. In the 1980's Glaxo shed its nondrug operations and began to focus only on pharmaceuticals. In 2000 Glaxo merged with rival SmithKline Beecham to create the company we have today GlaxoSmithKline . GlaxoSmithKline is

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