AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
Byline: MURRAY COLEMAN
Investors are still waiting for biotech to take off.
But many big technology firms aren't biding their time. IBM Corp., Sun Microsystems Inc. and others see biotech as a huge market -- even before biotech patents and products get approved.
They're focusing on supplying the information technology and services that drug makers and biologists need to do basic research.
Fresh off its $19 billion merger with Compaq, Hewlett-Packard Co. is joining the party. It offers a wide range of technology that could be vital to biotech research.
"The combination of HP and Compaq technologies puts us into a clear leadership role in this market," said Ty Rabe, HP's director of high-performance technical computing. "We're definitely in a strong position after the merger to grow with this market."
At a time of huge cuts in corporate spending, biotech research and development is still growing fast. The life sciences industry will spend $38 billion on R&D in 2006 vs. $12 billion last year, estimates International Data Corp.