The Biotech Industry
The biotech industry comprises companies whose products benefit people by treating illnesses with life-saving treatments and drugs, improving agricultural yields and creating environmentally friendly chemicals and fuels. It also includes bioinformatics, which is the study of biological processes and information and can be applied to many different industries.
Biotech’s roots date back to the 1970s in the beginning when the recombinant DNA technology (genetic engineering) was developed and later patented. This technique allows scientists splice genes in cells that later begin to create useful protein molecules.
Today, most pharmaceutical companies have active target discovery research programs that are heavily reliant on biotechnology. Small companies also exist in the pharmaceutical industry that utilize exclusive techniques to develop new therapeutic drugs.
Companies focusing on agrobiology, cosmetics, environmental, food technology, nutraceuticals and industrial biotechnology, in addition to veterinarian medicine, are exploring other biotechnology applications. Fully integrated Pharma companies are huge commercial enterprises that conduct research and develop generic or brand name drugs.
Biotech is going through a transformation due to the development of new technologies. Companies can now validate their products against conditions that have well-understood mechanisms, such as sickle cell anemia, and can reach broader patient populations. Some companies are trying to create new treatments for diseases that haven’t been addressed, such as Duchenne muscle dystrophy.