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Biotechnology Expenditure $430 Million in 2004


Biotechnology Expenditure $430 Million in 2004

Biotechnology expenditure in New Zealand for the 2004 financial year was valued at $430 million, according to results from the Biotechnology Survey 2004 released today by Statistics New Zealand.

Of the biotechnologies currently used by New Zealand organisations, 61.8 percent are being used at the research and development stage, 23.6 percent are being used as part of a production process and 14.6 percent as part of products sold.

The biotechnology sector in New Zealand currently employs over 2,400 people. A large proportion of employees in the biotechnology sector are highly qualified. Thirty-eight percent of biotechnology employees hold a doctorate, while a further 42 percent hold a postgraduate or undergraduate qualification.

In the 2004 financial year, 117 biotechnology-related patents have been granted to New Zealand organisations, with 348 patents granted over the past five years. Although not directly comparable, these results indicate an increase in the amount of patenting since the previous modern biotechnology survey was conducted in 1999.

Brian Pink

Government Statistician

END

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