The impact of market forces on the sustainability of the biotechnology industry

his paper contains a warning for investors, executives, analysts and scientists about the sustainability of the biotechnology industry. The study upon which the paper is based examines the impact of market forces on the biotechnology industry and argues that the short-term focus of market driven policies and practices impacts on the sustainability of firms operating in the industry. The market is represented by the National Association of Securities Dealers, Automated Quotations Market (NASDAQ), considered to be one of the vehicles of the promotion of ''new economy'' companies and principles. Through the application of bibliometric data (using both refereed and non-refereed papers), matched with the long term tracking of the NASDAQ Biotechnology Index, the authors provide a clear indication that the short-term investment thinking is leading an industry that is characterised by long R&D cycles. There is an incompatibility between the shorter-term investment considerations and the long-term scientific developments the biotechnology industry is attempting to achieve. Graphs and illustrations are provided to portray the comparative data.

Evaluation of the sustainability of water withdrawals in the United States, 1995 to 2025

To evaluate the long term sustainability of water withdrawals in the United States, a county level analysis of the availability of renewable water resources was conducted, and the magnitudes of human withdrawals from surface water and ground water sources and the stored water requirements during the warmest months of the year were evaluated. Estimates of growth in population and electricity generation were then used to estimate the change in withdrawals assuming that the rates of water use either remain at their current levels (the business as usual scenario) or that they exhibit improvements in efficiency at the same rate as observed over 1975 to 1995 (the improved efficiency scenario). The estimates show several areas, notably the Southwest and major metropolitan areas throughout the United States, as being likely to have significant new storage requirements with the business-as-usual scenario, under the condition of average water availability. These new requirements could be substantially eliminated under the improved efficiency scenario, thus indicating the importance of water use efficiency in meeting future requirements. The national assessment identified regions of potential water sustainability concern; these regions can be the subject of more targeted data collection and analyses in the future.