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The biotechnology industry is coming into its own, according to Beyond Borders, Ernst & Young's 19th Annual Global Biotechnology report. With governmental support and private capital, biotech companies worldwide are translating cutting-edge science into life-improving therapies. The industry's success in 2004 included:
"Biotech innovation is a key value driver for the pharmaceutical industry, as more than half of its late-stage pipeline now consists of therapeutics generated using biotechnology advances," said Mike Hildreth, Americas director, biotechnology, Ernst &Young.