![]() ![]() If the trials are successful, the FDA (Food and Drug Administration) may approve the new treatment. Before reaching a patient, a new treatment goes through an extensive clinical trial. When it comes to human health, the process for biotech companies is very similar to the one followed by the pharmaceutical industry. This invention would go on to save millions of lives. Notably, the industry really went beyond industrial applications like fermentation when Genentech first produced artificial insulin. Still, the largest part of the sector is dominated by human health applications, as this is a very large and high-margin sector.īecause of the difference in its products, biotech can address problems that pharmaceutical companies could not. It can include the production of biofuels, bioplastics, fermentation, pollution control or remediation methods, farming technologies, etc. Cell therapies even use entire cells, several billion times more complex than pharmaceutical products.īecause biotechnology is defined by its method first, it extends beyond healthcare applications. When the average drug might be made of a few dozen atoms, a protein or a DNS strand will be made of tens of thousands, sometimes millions of atoms. This means that biotech products are much more complex than pharmaceutical drugs. They use chemical molecules to address health issues.īiotechnology companies use biological compounds and processes to achieve their goal. Pharmaceutical companies are an offshoot of the chemical industry. Louis Navellier, Chairman and Founder of Navellier & Associates Biotech vs Pharmaceutical One of the things that launched the strength in biotech is when the pharmaceutical industry itself got a little slow. Biotechnology companies also mainly operate in healthcare but their methods are radically different from those of the pharmaceutical industry. This article will cover a closely related sector, biotechnology. In the previous industry primer article, we covered the pharmaceutical industry. When you purchase through referral links on our site, we earn a commission. ![]()
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