Biotech companies are in need of greater backing from investors as generic drugmakers move in on expiring patents to produce cheaper versions
News last week that GlaxoSmithKline is set to axe thousands of jobs as it faces increasing competition from cheaper drug makers, that are focusing on its patent protection expirations has highlighted the case for investing in biotech companies. Biotech firms are already benefiting from the pharmaceutical sector's problems, with pharma companies piggy-backing biotech companies' research and development capabilities, having made cuts to their own departments. The biotech sector has performed well on the back of this, up 8% against the FTSE 100 falling 9% between 1 September and 31 Decembe...
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