California Business Minute™

Hi, I am Tim Johnson and welcome to the California Business Minute.

The California Healthcare Institute released updated information on California’s Biotech
Industry for 2006/07.

The Biotech industry is growing with business and research generating $73 billion in
revenue in 2006, up nearly 20 percent from 2005. The state has an estimated 2700 firms
employing 270,000 workers with an average salary of $81,300.

Including medical devices and diagnostics  firms, the state’s biotech companies acquired
40 percent of the $7.4 billion in biotech venture capital about three times as much as
Massachusetts, the state’s nearest competitor.

Additionally, the National Institute of Health awarded $3.3 billion in grants to researchers
statewide, significantly more than any other state.

I am Tim Johnson and this has been the California Business Minute.

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                                                             Bob Slobe
                                                             Businessman
                                                             Philanthropist
                                                             All Around Great Guy