Europe Falls Behind

William Bains

Chapter 3 in Venture Capital and the European Biotechnology Industry, 2009, pp 23-41 from Palgrave Macmillan

Abstract: Abstract The European biotechnology industry is, therefore, smaller, less productive and growing far more slowly than its US counterpart, and this malaise is not related to Europe not being part of the US, nor is the UK’s relatively poor showing because it is smaller than the US. The companies are also ‘younger’. VC-backed biotech companies typically start out to do research, discovering a product and only when that product is mature enough for a market do they fill out the organisational structure to include marketing, sales, manufacturing and the other functions expected of a fully fledged business. By the end of 2006, US public biotech companies had four times the employees of European ones, but only 1.3 times as many employed in R&D, that is, the European industry was far more focused on the early stages of the biotech business model [33].

Keywords: Venture Capital; Biotechnology Company; Biotech Company; Venture Capital Investment; Venture Capital Fund (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-22726-2_3

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DOI: 10.1057/9780230227262_3

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