Australian Biotech

Introduction Global consumers want instantaneous acting medicines, bigger fruit, studier crops and each(prenominal) at a cheaper price. These ar some of the possibilities of bioengineering. As scientists go on their understanding in the various biological fields, they use this noesis to design in the buff medicines, to grow pest repellent crops that turn higher yields, and to refined pollution without the use of detrimental chemicals. The exertion of biological processes to drub problems and to make useful products is termed bioengineering (Commonwealth bioengineering Ministerial Council 2000). Genentech, assign as being the prototypal biotech guild (Genentech Home varlet n.d.), was started in 1976. The company employ recombinant deoxyribonucleic acid technology to produce medically valuable proteins reliably and efficiently. Biotechnology has been applied across many industries including health and medicine, agriculture, forestry and mining. So omnipresent is the technology that it has deform a new diligence. In 2005 thither were over four hundred0 biotech companies listed world(a) (Greenwood 2005); 200 biotech medicines were on the foodstuff with an estimated gross gross revenue of A$66.5 billion; and 80 million hectares of biotech crops were plant in 17 countries.

These numbers adumbrate that the industrial natural book binding of biotechnology can case in commercially stentorian ventures. The industries capacity for innovation and coevals of revenue and employment spell meeting consumer needs has attracted the caution of governments worlwide It has the characteristics of a growth intentness that countries are seeking to draw their local industries including Australia (Wells, Coady & Inge 2003). This report comments on the economic health of the Australia biotechnology industry. Overview of the Australian Biotech Industry At the feebleness of 2005 there were about 400 Australian Biotech companies of which 157 were listed on the Australian Stock Exchange (ASX) with a market capitalization of A$42.4 billion...If you want to get a full essay, order it on our website: Ordercustompaper.com

If you want to get a full essay, wisit our page: write my paper