Biotechnology and Pharmaceuticals: Industry Evolves as Biotechnology and Pharmaceutical Firms Collaborate
The intense desire for increased life expectancy, coupled with a demand for personalized and sophisticated treatment, has promoted the biotechnology and pharmaceuticals industry in the U.S. Traditionally, the industry has grown through innovation, especially the biotechnology segment, which has driven innovation across the industry by generating new knowledge, tools, and substances. Although demand for these products has increased, the industry is facing substantial pressure because of mounting operating costs, the rise of generic competitors, and a restrictive regulatory environment.
