Source: Financial Times
Bioagriculture: In an effort to more thoroughly evaluate certain genetically modified crops, the EPA has announced a new review plan for of genetically modified corn and cotton. The plan includes comprehensive risk assessments, public comment on risk assessments, and observations and comments from the EPA's Scientific Advisory Panel and the National Academy of Sciences. Based on this information, the EPA will revise its risk assessments and registration decisions for the crops in early 2001. Final registration decision will be issue in the summer.
Source: Environmental Laboratory Washington Report
Biotechnology: After years of working closely with large pharmaceutical companies, often for small royalty payments, the recent infusion of cash into the biotech sector has changed the situation. Biotech companies raised more than $22 billion in the first half of this year, and despite the stock markets downturn in March, have continued to attract investors and launch successful IPOs. The increased funds have given smaller biotech companies more independence from pharmaceutical companies and thus a better bargaining position when negotiating licensing deals, drug discovery services, sales of biotech tools and drug sales and marketing. In some cases, such as Millennium Pharmaceuticals, the biotech companies can actually compete with drug companies for technology. Pharmaceutical companies, which currently spend approximately 20% to 30% of their budgets on outside R&D, find it hard to go it alone and often must accept the new terms. But as the market capitalization of public biotech companies continues to grow from its current $400 billion figure, small biotech companies may find they still need to partner with drug companies for validation, clinical trial and sale expertise .
Source: New York Times
Oil & Gas: Analysts predict that high oil prices could continue into the winter. High prices are not only caused by OPEC's tightening of oil production , but increased demand due to the strong global economy. Even if OPEC raises output, the effect on prices could be delayed due to processing and distribution capacity. Tankers are at 97% capacity for the first time in twenty-seven years. US refineries are working at capacity, and US and developing countries' stocks of oil are at their lowest point in years. Holding stock is discouraged because the spot price of oil is higher than the futures price.
Source: Financial Times
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|Publication:||Instrument Business Outlook|
|Article Type:||Brief Article|
|Date:||Sep 15, 2000|
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