Biotechnology companies that have previously exclusively sold drugs and vaccines to the federal government are diversifying their businesses to include commercial products, according to a Washington Post article.
Steven Overly writes the value of such firms lag compared to commercial counterparts and the defense biotechnology firms are looking to change this.
In an example of what these firm are doing, PharmAthene recently combined Seattle-based Theraclone Sciences in order to sell drugs to the public instead of Anthrax vaccines that only the government buys.
“We all recognize that with sequestration that really the marketplace has to be broadened, and we have to look for new applications for existing technologies,” Judy Britz is executive director of the Maryland Biotechnology Center.
The Washington Post article also said that the government has made it easier for the company’s they buy drugs from by investing in products that might have a commercial use.
“Both markets offer tremendous growth opportunities for the organization and as we look at the capabilities of the company, biologics manufacturing stands out,” said Emergent Biosolutions chief executive Daniel Abdun-Nabi.