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Despite ailing economy, biotechs remain healthy. (Pharmaceuticals).

Publication: Business North Carolina
Publication Date: 01-FEB-02 		Format: Online - approximately 755 words
Delivery: Immediate Online Access
Full Article Title: Despite ailing economy, biotechs remain healthy. (Pharmaceuticals).(Brief Article)(Statistical Data Included)

Article Excerpt
It's only fitting that the Tar Heel industry that seemed inoculated against the virus infecting the economy in 2001 was pharmaceuticals. Spurred partly by the rapid advances in human genomics, the Tar Heel drug industry managed to avoid the big layoffs and bankruptcies that were so common among high-tech companies. Instead, it added jobs and saw millions of dollars flowing to promising new projects.

"This time last year, we had 114 biotech companies in the state, in all fields," says Barry Teater, spokesman for the North Carolina Biotechnology Center. "This year, we have 138. And we had a lot of companies raise money through venture capital and private...

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