Business Development

The societal impact of the genetic engineering revolution is only beginning to be felt in the marketplace, and most molecular biologists agree that the biotechnology industry is only in its infancy. Because of the need for substantial investment of venture capital for research and development of new products, and the long time and additional capital required to bring a product to market, many new companies have struggled and remained small. Many also have folded or have been acquired by larger companies. However, as more products are approved by federal regulatory agencies and begin to yield profits for the companies involved, it is likely that this industry will mature and expand significantly to provide excellent opportunities for students with training in the biological sciences and chemistry. Industries that are especially large and active developers of biotechnology include the pharmaceutical industry, food and natural products processing industries and agricultural (plant and animal) industries.