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Biotechnology Industry Guide, NAICS Code 541710

Photo courtesy of Pacific Northwest National LabScope of This Guide:

Companies involved in the biotechnology industry are primarily engaged in the research and development (R & D) of products and processes that depend on the alteration of genetic material in living cells. Applications include development of new pharmaceuticals, food sources, and environmental remediation processes.

The industry depends heavily on genetic engineering - the transfer of fragments of genetic material from cells of donor organisms to a host organism to form new combinations of genetic material. The host organism is then propagated on a large scale for commercial use. Such host organism may be "designed" to generate biological compounds, such as human insulin, or to develop a disease resistant variety of corn. Scientists hope to use biotechnology techniques to develop genetic therapies for treating hereditary diseases.

Companies in this industry spend more on R & D as a percentage of revenues than in any other industry. Routinely, such companies screen an extraordinarily high number of compounds to develop a single commercially successful product. They often utilize patents to protect intellectual property rights. For pharmaceutical products, the companies must secure approval from the U.S. Food and Drug Administration - a lengthy and expensive process.

New biotech companies struggle for funding, using "angel" investors and venture capitalists to break into business. Those with a promising line of research often partner with large pharmaceutical or biotech firms for help with capital, patenting and FDA approvals. In turn, the smaller firms provide specialized R & D facilities and professional expertise.

Biotech companies also cope with specific external and ethical issues. Some people fear that a newly created organism may cause unexpected damages if released into the environment. Many countries currently ban genetically altered agricultural products. Political and legal barriers have limited stem cell research and human cloning. Political efforts to control health care costs may limit health care reimbursements for new, expensive drug therapies.

Industry Definitions: Description by NAICS Sector / Sub-Sector

CODE NAICS Sector (WHAT is NAICS?)
32541 Pharmaceutical and Medicine Manufacturing
541710 Research and Development in the Physical, Engineering, and Life Sciences

Databases for Industry Research

Standard & Poor's NetAdvantage

  • Industry surveys
  • Bond ratings
  • Company profiles and corporation records
  • Stock, bond and fund research
  • See "Industry Surveys", "Biotechnology"
Plunkett Research Online (Industry Information)
  • Industry sector analysis and research
  • Industry trends and statistics
  • Market research and trends
  • Company profiles
  • See "Industry Research Centers", "Biotech & Genetics"
Reuters Research On-Demand
  • Real-time full-text investment research
  • Reports cover companies and industries
  • Over 750 contributing firms
  • Use the "Industry" tab, near the bottom, to search "Biotechnology"
ValueLine
  • Aggregate data and analysis on industries
  • Reports, articles, and company highlights
  • Investment Survey profiles 38 companies in Biotechnology industry

ABI/Inform (via ProQuest)

  • Indexes over 1000 business periodicals
  • Trade journals, business magazines, academic journals and other news sources
  • Most articles full text

IBISWorld

  • Over 700 full-text industry reports
  • Over 700 US industry risk rating reports
  • Information on over 8000 Publicly Traded Companies
  • Hundreds of economic and demographic profiles

For additional database choices, see:

  1. Database Descriptions
  2. Database Comparison Chart

Selected U.S./World Industry Data & Company Sites

U. S. Data

United States Department of Agriculture (USDA)

2002 Economic Census Industry Series Reports: Manufacturing / U.S.Census Bureau

Global Biotechnology Center / Ernst & Young

Biotechnology Page / U.S. FDA

Bio.com

Biotechnology Industry Organization

Biotechnology Information Directory Section / Cato Research

Bioethics.net

Genetic Engineering & Biotechnology News

Signals - The online magazine of biotechnology industry analysis

About Biotech / Access Excellence-the national health museum

National Center for Biotechnology Information (NCBI)

Recap's Biotech Alliance Database

 

Biotechnology Law and Patents:

Biotechnology & Genetics Law / MegaLaw.com

U.S. Patent and Trademark Office

DNA Patent Database

World Data

Biotechnology in Food and Agriculture / FAO of the UA

OECD

Agricultural Biotechnology / usinfo.state.gov

Burrill & Company

  • Biotech indices
  • Quarterly reports

Biotechnology and Genetic Resource Policies 2003 / World Bank

Biotechnology / Office of the United States Trade Representative

European Bioinformatics Institute

European Federation of Biotechnology

BioRegulations / Government of Canada

Council for Biotechnology Information

ActionBioscience.org

Resources for Identifying Companies in the Industry

Hoover’s Online

  • Proprietary company overviews
  • Industry breakdowns and explanations
  • Competitor listings
  • Financial synopses

Lexis/Nexis Corporate Affiliations
Business Library, Reference: HG4057.A219

  • U.S. corporate directory
  • Holding company directory

Mergent Online

  • Information on 11,000 U.S. public companies and 17,000 non-U.S. Public companies
  • Detailed, standardized financial statements
  • Searchable by company name, industry codes, revenue levels, and other characteristics
  • Comparative analysis among companies
  • Access to SEC reports

Ward’s Business Directory of U.S. Private and Public Companies
Business Library, Reference: HG4057.A56

  • Listings organized by NAICS code
  • Ranks public and private companies by revenues/sales

Library Collections: Selected Reference Titles & Call Number Ranges

Selected Reference Titles

For additional materials, contact the Schreyer Business Library.

Biotechnology
Electronic resource

Encyclopedia of Science,Technology and Ethics
Business Library, Reference: Q175.35.E53 2005

The Politics of Biotechnology in North America and Europe : Policy Networks, Institutions, and Internationalization
3rd Floor Paterno: TP248.185.P65 2007

The International Politics of Genetically Modified Food: Diplomacy, Trade and Law
3rd Floor Paterno: TP248.65.F66I595 2007

Regulating Agricultural Biotechnology: Economics and Policy
4th Floor Paterno: S494.5.B563R44 2006

Biotechnology Unzipped: Promises and Realities
3rd Floor Paterno: TP248.15.G72 2006

Plant Biotechnology: Current and Future Applications of Genetically Modified Crops
4th Floor Paterno: SB106.B56P582 2006

Medical Biotechnology: Achievements, Prospects and Perceptions
3rd Floor Paterno: TP248.2.S273 2005

Agricultural Biodiversity and Biotechnology in Economic Development
4th Floor Paterno: S494.5.A43A43 2005

The Global Genome: Biotechnology, Politics, and Culture
3rd Floor Paterno: HD9999.B442T453 2005

Biotechnology: Between Commerce and Civil Society
3rd Floor Paterno: TP248.23.B5625 2004

Food Biotechnology: Current Issues and Perspectives
3rd Floor Paterno: TP248.65.F66F67 2003

 

Journals

Biotechnology Advances   Journal of Commercial Biotechnology
Journal of Commercial Biotechnology   Biopharm International
Journal of Industrial Microbiology & Biotechnology   Biotech Business
Nature Biotechnology
Life Sciences, Periodicals: TP248.3.B55
  Biotech Finance News
The Scientist / Institute for Scientific Information
Life Sciences, Periodicals: Q1 .S8422
  Biotech Equipment Update  
Technology Review
Engineering Library: T171.M7
  Biotech Financial Reports  

Career Information: Selected Sources for Employment Information

Biotechnology Industry

Biotechnology / Career Voyages

Career Center / Access Excellence
A collection of career guides and interviews in health and bioscience-related fields

Career Voyages

Salary.Com

Beyond.com

Career Overview

JobBank USA

Vault Online Career Library (Currently, Vault Guides are facing problems opening in Adobe Reader 8.x. Please see here for using FREE Adobe Digital Editions to access these guides)

  1. Vault provides full-text career and industry guides
  2. Includes company profiles, occupation descriptions, and career-related articles

Career Guide to Industries (Bureau of Labor Statistics)
Business Library, Reference: HF5382.5.U5 C3162

Occupational Outlook Handbook  (Bureau of Labor Statistics)
CAT record for print copies
Business Library, Reference: HD8051.A623

Career Resources Page

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