Clarity in Vision for the future comes from clarity of Differences
The two words, Biotechnology and Pharma though are very common to us, but a large population is still not clear about the exact difference between the two. So, we are providing you some insights that will help you have clarity on the difference between the two.
Biotechnology and Pharmaceutical companies, both works on manufacturing of medicines but the difference is in the way of manufacturing them. While Biotechnology uses live organisms or their products, such as bacteria or enzymes, to manufacture their medicines, whereas, pharmaceutical companies utilizes synthetic drugs to manufacture medicines and are easier to characterize as they tend to be more simpler and stable than the large molecules used in bio drugs.
There is a huge operating cost difference between the two when taking into consideration its risk involved, manufacturing, research and development along with its distribution. The biotech companies tends to have a higher cost due to its focus on R&D, length of time and difficulty in testing and manufacturing new products. Therefore, due its more time in manufacturing the product, its results them to have the patent of its product for almost 12 years as compared to just 5 years for the products developed by pharmaceutical companies.
Biotechnology firms though do have big corporate housing and do some times operate at loss for many years, but ones the product are manufactured, its lead a cost earning more than any pharmaceutical company. The changes in the stocks of the pharmaceutical companies comparatively varies only at a small range.
The application part is also one of the characteristic on which both are comparatively different. Biotechnology develops different versions of specific animal like “Dolly the sheep”, as well as crops requiring less of pesticides and many other products that one can imagine. But on the other hand, pharma is not concerned about the changes at the cellular level, they focus more on the development and marketing of their product.
I hope, now you must be quiet clear about the difference between the two and can make the right choice among them to take up as a career option.