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Danish biotech industry in downward spiral

Biotechnology companies in Denmark are in dire straits and reporting activity levels for 2010 that are down significantly compared to 2009, according to an annual report by Belingske Research that surveys Copenhagen’s small biotechnology businesses.

Peter Høngaard Andersen, head of research at medical giant Lundbeck, told Berlingske Tidende on 11 July that companies’ problems include lack of funding for start-ups and no money for basic testing of products.