Bio Buzz: San Diego Anticipates $83 Million Cash Injection from Biotechnology Industry's BIO 2008 Conference

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Reported by Annette Kreuger, Industrial Info Resources (Sugar Land, Texas)--Odds are that if you are in San Diego this week, your IQ will go up a few points from being in close proximity to some of the world's best and brightest minds of science and business. San Diego is hosting this year's annual Biotechnology Industry Organization's (BIO) conference (June 16-20), the largest gathering of key players in the biotech industry. BIO 2008 promises to be the biggest BIO conference yet, with organizers expecting more than 20,000 attendees, including government officials, scientists and CEOs. A change in conference venue occurs each year and this year, San Diego, a city steeped in the culture of biotech, won the coveted hosting privileges and the chance to reap an estimated $83 million in spending from those in attendance, $35 million of which will be the result of direct spending.

While BIO 2008 is based at the San Diego Convention Center, related events will take place throughout the city, from yachts anchored in the bay to the myriad dining and entertainment venues. Attendees from more than 70 nations will discuss topics ranging from the hope of landing a $500 million federal research lab to improving the way the world lives. The biotech industry influences everything from combating emerging viral threats to devising more efficient fuel alternatives. Public and private entities alike are seeking the answers needed to cure, clean up, and improve our planet and its people through biotechnology.

The difference between pharmaceuticals and biotechnology can be confusing, as both sectors seek to use science and technology to improve our lives. So, what exactly is biotechnology? If you ask 10 different industry professionals, you will likely receive 10 different answers. A reasonably clear definition of biotechnology can be gained by breaking the term into its root words:

•Bio: the use of cellular or biomolecular processes
•Technology: the application of knowledge to solve problems or make useful products

As biotechnology, then, is "the use of cellular or biomolecular processes to solve problems or make useful products," a firm separation from the pharmaceutical industry is almost impossible.

Big Pharma has always had a presence at the annual BIO conferences, yet this year, the pharmaceutical industry's presence is being felt more than ever. Faced with the stark realities of dwindling markets and expensive patent losses, Pharma has embarked on a wave of spending and research in the biotech sector that further blurs the lines between the two industries.

Moving away from a past relationship tinged with acrimony, the combining of the two sectors was underscored last year when Pfizer (NYSE:PFE) (New York, New York) announced plans to invest $10 million a year for the next five years to help fund start-up biotech companies at its La Jolla, California, research campus. The company is hoping to create partnerships with small drug developers while ramping up internal development of its own biotechnology-created drugs.

Using biotechnological processes in the manufacture of drugs and medicines makes sound fiscal sense for the pharmaceutical industry. Drugs manufactured using this technology are more difficult to copy, making the manufacture of profit-destroying generic drugs more difficult.

Be sure to stay in touch for updates from the BIO 2008 conference. Highlights of the conference will be covered, as well as the big announcements typically revealed at the conference each year.

Industrial Info Resources (IIR) is a marketing information service specializing in industrial process, energy and financial related markets with products and services ranging from industry news, analytics, forecasting, plant and project databases, as well as multimedia services.