This week in biotech was the same all over the world. E&Y brought their “Beyond Borders” roadshow to Toronto and walked a crowd at MaRS through a retrospective of 2009’s biotech successes and failures.
One interesting feature of this year’s report (pdf) was the uniformity of trends among different countries. No matter where you were in the world, a few things were true:
- Revenue was up;
- R&D spending was down;
- There were lots of licensing deals; and
- By the end of 2009, companies had returned to their normal levels of cash reserves and operating runway.