Issues and Threats Facing the Biotechnology Industry

In this interview, Fintan Walton talks to Jim Greenwood, President and CEO of the Biotechnology Industry Organization (BIO), about the issues and threats facing the biotechnology industry today. Jim begins by referring to the large number of delegates at the BIO International Convention and how this reflects on the growth of the biotech industry as a whole. He then discusses the impact of the Democrat majority in the US House of Representatives and Senate on the biotech and pharmaceutical industry. The challenges that BIO faces in changing the somewhat negative public perception of the biotech and pharma industry – and in making the public understand why drugs can be so expensive – are also considered. The interview then moves on to the subject of the recent increase in company acquisitions, and why this is beneficial to both small innovative companies, and to global pharma companies. Among other things, Fintan and Jim also talk about the trend in outsourcing to India and China, the move by academics towards more commercially viable research, and the drop in drug prices that will undoubtedly happen. The interview ends with Jim’s vision for the future, with particular reference to the enormous potential of RNAi technology to the industry.

About Jim Greenwood - President and CEO of BIO

Jim Greenwood became President and CEO of the Biotechnology Industry Organization (BIO) in 2005. Before this, he represented Pennsylvania's Eighth District in the US House of Representatives. Mr Greenwood also served 6 years in the Pennsylvania General Assembly and another 6 years in the Pennsylvania Senate. While in these positions, he specialised in health, environment and children's issues.

Mr Greenwood graduated from Dickinson College, Pennsylvania in 1973 with a BA in Sociology. From 1977 until 1980, he was employed as a caseworker with abused and neglected children at the Pennsylvania’s Bucks County Children and Youth Social Service Agency.

About the Biotechnology Industry Organization (BIO)

BIO represents more than 1100 biotechnology companies, academic institutions, state biotechnology centres and related organisations across the US and 31 other nations. Its members are involved in the research and development of healthcare, agricultural, industrial and environmental biotechnology products. BIO also organises the BIO International Convention, which is the world’s largest gathering of the biotechnology industry.