Biotech Research and Development Will Benefit from Sarbanes-Oxley Changes.BIO Reiterates Support as Senate Small Business Committee Considers Changes WASHINGTON -- As Securities and Exchange Commission (SEC) Chairman Christopher Cox and Public Companies Accounting Oversight Board (PCAOB PCAOB Public Company Accounting Oversight Board ) Chairman Mark Olsen Mark Olsen may refer to:
"The biotechnology industry was particularly hard-hit by the complex and burdensome regulations imposed by SOX's Section 404. We have supported changes to its implementation, so our companies can refocus on our most important mission of researching and developing new therapies to improve human health, expand our food supply, and provide new sources of energy," said BIO President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Jim Greenwood. "We are pleased to see that agency and congressional leaders are listening." The SEC in December released a proposal to provide guidance to management to improve Section 404 by eliminating waste and duplication in SOX compliance procedures. The commission is expected to vote on the new standards by the end of May or early June, in time for the 2007 financial statement audits. "Our industry looks forward to continuing to work with regulators and policy-makers to establish a more equitable implementation of SOX -- one that maintains the original intent of the law by providing investors with confidence in the financial integrity of public companies while also lessening the burden on small companies like ours who are investing in innovations that are improving life for millions of people," continued Greenwood. About BIO BIO represents more than 1,100 biotechnology companies Top 100 Biotechnology Companies The following is a list of the top 100 biotechnology companies ranked by revenue. The first nine companies qualify for the list of the top 50 pharmaceutical companies. , academic institutions, state biotechnology centers and related organizations across the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and 31 other nations. BIO members are involved in the research and development of healthcare, agricultural, industrial and environmental biotechnology Environmental biotechnology is when biotechnology is applied to and used to study the natural environment. Environmental biotechnology could also imply that one try to harness biological process for commercial uses and exploitation. products. BIO also produces the annual BIO International Convention, the global event for biotechnology. |
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