Synta Pharmaceuticals - Competitors

Synta Pharmaceuticals Competition

Now Viewing Synta Pharmaceuticals's competition in: Biotechnology Sector

Recent Developments

Biotechs Working on Anthrax Vaccine - The US government has awarded nearly $110 million in contracts for continuing work on genetically engineered anthrax vaccines. The money is part of an ongoing effort to build up the Strategic National Stockpile of anthrax vaccine doses to 25 million. The two biotechnology companies that will receive the funds are Emergent BioSolutions, which is already supplying a form of anthrax vaccine, and PharmAthene.

Genetically Modified Meat Near - FDA is accepting comments on proposed guidelines to allow genetically modified (GM) animals to be processed and sold as food, something the biotech industry largely supports. For years, the issue has been controversial among consumer groups, which are unhappy that FDA's proposed rules don't require different labeling for GM meat. FDA will, however, have to approve all GM animal products, and will review both animal and human safety issues prior to approval.

Money Tight, but Biotechs Continue On - Recent news that biotech firm MacroGenics secured $25 million to fund ongoing research on its cancer treatments is proof, according to industry experts, that biotechs can still prosper despite the challenging US economic climate. Among the biotech sectors' advantages are their link to the healthcare industry, which is still performing well. However, experts note that recent investment bank consolidation may force smaller biotech firms to work harder to find funding deals.

Competitive Landscape

Demand for biotechnology products and services is driven primarily by the willingness of insurers to pay for new medical treatments. The profitability of individual companies depends on the discovery and effective marketing of new products. Because the market for potential products is so large, small biotechnology companies can co-exist successfully with large ones if they have expertise in a particular line of research.

Full Industry Overview For Biotechnology Sector

Biotechnology Sector Industry Forecast

from Hoover's/D&B subsidiary First Research

The output of US scientific research and development, an indicator of biotechnology activity, is forecast to grow at an annual compounded rate of 8 percent between 2008 and 2013.

Scientific R&D Growth Strong and Steady

First Research forecasts are based on INFORUM forecasts that are licensed from the Interindustry Economic Research Fund, Inc. (IERF) in College Park, MD. INFORUM's "interindustry-macro" approach to modeling the economy captures the links between industries and the aggregate economy.