Investing in Biotechnology Stocks By Leo Gough Published by John Wiley The burgeoning biotechnology sector is an oasis of rich pickings for investors as governments around the globe lead the drive to develop the industry. A research report released recently showed that Asian governments were focused on building a biotechnology industry as part of their knowledge economy strategies. A growing number of high quality Asia biotechnology investment opportunities are expected for both early and late stage investors for the next few years, the report stated. Support from the government, a strong research base, protection of intellectual property rights, and an entrepreneurial culture are critical success factors in the biotechnology sector. Other factors necessary for the development of biotechnology include access to capital, ability to form alliances, a good infrastructure network and the ability to attract talent. Leo Gough's book is a collection of interviews with leading biotechnology scientists and industrialists, who talk candidly about the risks and rewards of commercial biotechnology. Gough says that the book is intended to give investors insights into the burgeoning biotechnology industry. How one uses this information is up to the investor, as biotechnology investment is, depending on one's viewpoint, highly speculative, an exciting growth industry or both. As always with investment, there is no sure thing. As well as producing some spectacular successes, biotechnology investment has experienced failure on a large scale, usually because a promising compound or technology has encountered unexpected difficulties. The author writes that the long-term prospects for the industry are extraordinarily promising, but the best returns are likely to go to investors who follow developments closely and continuously. There is no doubt biotechnology will be around for the rest of our lives. Biotechnology has applications in many fields, but this book focuses on medical biotechnology, as this is where most of the money is now being made. While the discovery of new drugs has been the most lucrative aspect of biotechnology up to now, 'pick and shovel' companies are springing up to serve both discovery firms and medicine as a whole, enjoying lower risk and quick paths to profitability. Drug discovery, as is explained, is risky, expensive and time consuming. Smaller firms generally rely on alliances with major pharmaceuticals companies to assist them in getting through the approvals process and marketing their products. Gough is an investment writer and considers himself a 'dedicated' private investor. He is the author of several books, including Trading the World's Markets, Investing in Internet Stocks and Going Offshore.