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Article: Biotechnology Industry- The Building Blocks of Life
- Article from:
- New Jersey Business
- Article date:
- June 1, 2000
- Author:
CopyrightCopyright New Jersey Business & Industry Association Jun 01, 2000. Provided by ProQuest LLC. (Hide copyright information)
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Biotechnology companies are seeking the cure for cancer, heart disease and kidney failure. In existence only a few decades, the biotech industry has already developed medicines to treat infectious, chronic and genetic diseases. The U.S. Food & Drug Administration approved another 22 biotech drugs, vaccines and new indications for existing medicines last year. That brings the number of biotech drugs and vaccines on the market to 92. Total FDA biotech approvals from 1982-1999 reached 143 when adding clearances for new indication of existing medicines.
"Our industry and its science have matured to the point that the number of lifesaving drugs on the market and in late-stage clinical trials ...