PhRMA, BIO heads reflect on state of industry

Bethesda, MD last week for the 2010 Mid-Atlantic Bio Conference, which featured more than 400 companies and 50 qualified investors participating.

Bethesda, MD -- A host of representatives from the biotech industry congregated in Bethesda, MD last week for the 2010 Mid-Atlantic Bio Conference, which featured more than 400 companies and 50 qualified investors participating.

Among the attendees was BIO President and CEO Jim Greenwood, who says PDUFA reform will be front and center on his group's legislative agency when the next session of Congress begins.

Greenwood appeared on stage with his counterpart at PhRMA, John Castellani, who emphasized the need for the biopharma industry to demonstrate its importance to the country's economic future to the public. A survey has found that less than half of respondents view the sector as important to the future of the nation's economy--and the industry ignores this at its peril. In fact, the industry could be driven overseas, where its economic promise would be more greatly appreciated.

When asked about capital formation, Greenwood said hedge funds do not want to