Business Facilities - September 2008 - (Page 36)

percent, also believe that there is opportunity for strategic collaborations with academic institutions and other industry laboratories within the state. Sixty-one percent of the respondents also indicated that New Jersey State Government provides an environment that supports and promotes the industry; a measure that has increased with each survey since 2003. The response was attributed to several programs, including the Tax Credit Transfer Program that allows companies that are not making a profit to sell Net Operating Losses, a strong network of business incubators and the sufficient venture capital to support the growth of the Riverside County Right Now we want a COUNTY responsive to our business needs. Right Now we need a county willing to open doors for expansion. Riverside County meets these needs right now. visit www.rivcoeda.org/rightnow or call 951.955.8916 #4609 at www.BusinessFacilities.com industry. Cited VC programs included the Garden State Life Sciences Venture Fund, which was proposed to the state government by BioNJ. As the biotech industry evolves, mergers and acquisitions (M&A) are gaining more prominence. Celgene’s $2.7 billion acquisition of oncology-focused Pharmion Corporation was the third largest biotech M&A transaction announced in 2007. Also representing New Jersey was Ikaria’s $670million acquisition of INO Therapeutics, Glaxo SmithKline’s $1.65billion acquisition of Reliant Pharmaceuticals, Reckitt Benckiser’s $2.2-billion acquisition of Adams Respiratory Therapeutics and the $370-million acquisition of Esprit Pharma by Allergan, Inc. According to Keith Brownlie, Life Science Partner at Ernst & Young, “The convergence of the biotech and pharmaceutical industries will continue unabated in 2008 and beyond. The majority of the M&A activities will occur between pharmaceutical/large biotech companies and innovative emerging companies that have broadly exploitable platform technologies or with biotech companies that have achieved clinical proof of concept of a product candidate. This will be a boon for New Jersey’s biotechnology industry.” B-8 A S P E C I A L A D V E RT I S I N G S E C T I O N O F B U S I N E S S FA C I L I T I E S , B I O P H A R M , A N D P H A R M A C E U T I C A L E X E C U T I V E PHOTO CREDIT: POTODISC ® http://www.rivcoeda.org/rightnow http://www.rivcoeda.org/rightnow http://www.BusinessFacilities.com

Table of Contents Feed for the Digital Edition of Business Facilities - September 2008

Business Facilities- September 2008 Contents First Word Snapshots Corporate Moves:�Mississippi Editor's Location Picks 2008 The Palmetto State Reaches Across the Sea Corporate Moves:�Tennessee Metro Spotlight:�Spokane, WA Biotech: Building Block for Development Wind Power Lifts Iowa Germany:�Europe's Economic Juggernaut California Here We Come Up, Up and Away in North Carolina Corporate Moves:�West Virginia Metro Spotlight:�Decatur/Greensburg, IN Advertiser Index Ask the Expert

Business Facilities - September 2008

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