Abstract
Following its conception more than a decade ago, the field of genomics excited
the research community with the possibility of a faster, surer route to drug
discovery, but this optimism has quickly faded and the industry is reassessing
its prospects. To date, no genomics-derived product has successfully completed
Phase III trials, and it will be another two to four years before a
significant number of the genomics compounds now in early-stage development
reach this critical juncture. In the meantime, genomics companies face the
continuing challenge of supporting the cost of clinical development. In this
report, we examine the success that the biotechnology industry, in contrast to
the genomics industry, has had with drug discovery; profile today's genomics
companies and their pipelines; provide a SWOT analysis of the strengths (S),
weaknesses (W), opportunities (O), and threats (T) facing the genomics
industry; describe the various strategies that companies are using to improve
their financial situation and get products to market; and discuss the outlook
for the genomics industry, including the development of personalized medicine
and genomics-derived diagnostics
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