BIO 2010 Datebook: Bush and Clinton Speak Bio, China Sheds "Sleeping Giant" Status

---

Reported by Annette Kreuger, Industrial Info Resources (Sugar Land, Texas)--There has been a whirlwind of information in Chicago as the world's largest biotechnology conference continues at McCormick Place through May 6. Sponsored by the Biotechnology Industry Organization (BIO) (Washington, D.C.), the conference has been filled with key industry insights, trends and discussions about the vital role of biotechnology throughout the world.

Continuing a tradition of attracting the globe's top speakers, BIO 2010 brought together former Presidents Bill Clinton and George W. Bush, the 42nd and 43rd presidents of the United States, as the featured keynote speakers on Tuesday, May 4. Despite a surprising media ban on attending the event, reports from those in attendance revealed an interesting discussion on a wide variety of issues impacting the industry and the global population.

Casting aside whatever political differences the two may have, Presidents Clinton and Bush presented a bipartisan outlook on biotechnology and its role in healing and fueling the world. President Bush emphasized that we must have a vibrant economy to support biotech innovation. "We need to incent research and aggressively encourage investment [in biotech]," said President Bush.

President Clinton went on to say, "Biotech can play a big role in how we produce and consume energy." He also stated that "there is no more urgent task" than addressing climate change.

The moderator, BIO President and CEO James Greenwood, offered this insight: "The discussion between Presidents Clinton and Bush was candid, thoughtful and informative. Both addressed important issues such as national security, the economy and their combined efforts in Haiti, in addition to exploring the biotechnology industry's role in creating a better tomorrow by healing, fueling and feeding the world."

No longer the "Sleeping Giant" Napoleon once described, China is claiming its importance in the future of the biotechnology and pharmaceutical industry, as demonstrated throughout the conference. Following a public reception at the massive China BIO 2010 pavilion on Tuesday, May 4, law firm Perkins Coie LLP (Seattle, Washington) hosted a private event at its office on Dearborn Street in Chicago, showcasing the country's slogan of "New Market, New Capital, New Opportunity, New Development--China's Vitality in the Post-crisis Era!"

Presented in English and Chinese, the presentation highlighted the country's rising success in building up both research and manufacturing infrastructure. Representatives from the China National Center for Biotechnology Development and the China Center for Pharmaceutical International Exchange highlighted some key facts, such as that in 2008 the number of biotech-related companies in China rose to 7,300, including roughly 2,800 in modern biotech, which has annual sales of more than $800 million out of the traditional biotech industry, which experiences annual sales of $40 billion.

There are currently more than 100 biotech parks in various stages of development throughout China, drawing partnerships from big pharma majors including GlaxoSmithKline (NYSE:GSK) and Eli Lilly & Company (NYSE:LLY), along with a number of top U.S. universities. Other factors spurring the sector include a medical reform "stimulus" package by the Chinese government, with a budget of $125 billion over three years to facilitate expansion of the industry. As an emerging market, or "pharmerging" as viewed by the industry, China--and particularly the areas including Beijing, Shanghai and Guangdong--is a particularly attractive target for growth, demonstrating a rising standard of living and a targeted focus on expanding health care.

Industrial Info Resources (IIR) is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. IIR's quality-assurance philosophy, the Living Forward Reporting Principle™, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.