Hon Dr Wayne Mapp
Minister of Research, Science and Technology

5 June 2009
Media Statement

Report shows strong growth in biotech sector

Research, Science and Technology Minister Wayne Mapp has welcomed a report showing strong growth in the biotechnology industry.

The second Biotechnology Industry Growth Report, produced by NZBio, New Zealand Trade and Enterprise and the Ministry of Research, Science and Technology, was published this week.

“The significant growth reported in the sector is very promising, for both the industry and the country,” Dr Mapp said. “For example, in two years the net profit in the core sector has more than doubled and total income grew by 23 per cent. These are very good figures.

“A strong biotechnology industry is a significant force in the economy, particularly in our primary industries and the healthcare sector. These areas need biotechnology to help them continually innovate and boost our economic gains.

“The report shows that biotechnology is making a major contribution to increasing our productivity and ultimately our prosperity,” he said.

NOTE TO EDITORS:

The BIG report is on the NZBio website (www.nzbio.org.nz), and a summary version is also available there.

The report delivered news of growth in several key areas:
• Biotechnology export revenues grew from $56 million in 2005 to $104 million in 2007.
• The number of biotechnology organisations has grown from 126 in 2005 to 168 in 2007, also increasing the number of people employed in biotechnology.
• Government investment in research in the biotechnology sector increased from $200 million in 2005 to $250 million in 2008.
• Private equity and venture capital investment in biotechnology have grown, tripling since 2005 to a total of almost $67 million in 2007.
• Patent volume has grown, with 192 patents granted in 2005 and 230 granted in 2007.
• New Zealand biotechnology companies increased their exposure internationally, with Living Cell Technologies in 2008 becoming the first New Zealand company to list on the International OTCQX (a US-based stock market that allows trading in companies listed in other countries).

ENDS

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