UK promise of biotechs lags US says FTI's McCulloch

McCulloch, visiting the UK for research purposes, has told IFAonline that this is because while there are some interesting biotech efforts ongoing in the UK, firms in the US are in a stronger position with regard to both financial strength and in terms of the sheer number of products either on the market or in advanced stages of R&D. ”Many US biotechs raised significant cash in the dot.com years. Since then they have been going about their business. Meanwhile the big pharmas have seen their position weaken because of pipeline issues. This means that biotechs are actually in a stronger ba...