Clare FarrantSenior Communications ManagerErnst & Young+64 9 274 899 700clare.farrant@nz.ey.com
Despite the global financial crisis, New Zealand’s biotech industry continues to progress.
“This is due in part to the culture that exists in this country and the people who work in the industry,” says Jon Hooper. Head of Ernst & Young New Zealand's Biotechnology and Health Sciences sector. “People like Ray Avery, this year’s winner in the World Class New Zealand Awards Biotechnology category.”
The World Class New Zealand Awards recognise New Zealanders who give their time, knowledge and skills to help New Zealand companies and industries succeed internationally.
Ray Avery, this year’s winner, is the Founder and Chief Executive of Medicine Mondiale, an independent development agency focused on creating sustainable solutions to reduce global poverty through the development of products and technologies that have applications in both the developing and developed world markets.
“We are proud to sponsor these Awards, and the Biotechnology category in particular,” says Mr Hooper. “We see the Awards as an opportunity to encourage Innovation and to applaud the ground breaking work that is being done in this area.”
Mr Hooper says that New Zealand’s flexible and collaborative work environments also drive progress in this industry. “We are seeing Biotech companies forging mutually beneficial alliances with universities and other research institutions, and looking beyond national borders to Australia, the US and other markets for funding and alliance partners,”
The ability to build effective non-competitive partnerships puts New Zealand at the forefront in terms of providing early access to new technologies that can generate revenue earlier for biotech companies. This addresses a long-standing challenge for the industry.
“While New Zealand is considered an emerging market in global biotech terms, it is maturing in terms of its ability to accept the limitations imposed by its geographic isolation,” says Mr Hooper. “New Zealand biotechnology companies are embracing new approaches to overcome traditional obstacles, despite a constrained capital market and the size of the home market.”
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About Ernst & Young’s Global Biotechnology Center
Today’s rapidly changing biotechnology industry is delivering new levels of health, prosperity and sustainability. But it is also facing unprecedented challenges. Ernst & Young’s Global Biotechnology Center brings together a worldwide team of professionals to help you achieve your potential — a team with deep technical experience in providing assurance, tax, transaction and advisory services. The Center works to anticipate market trends, identify the implications and develop points of view on relevant industry issues. Ultimately it enables us to help you meet your goals and compete more effectively. It’s how Ernst & Young makes a difference.
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