Trading Biotechs: Biotech Toolmakers to Benefit from Obama

Tuesday, June 15, 2010

Biotech Toolmakers to Benefit from Obama

NEW YORK (GenomeWeb News) - The Federal economic stimulus package that awaits both Congress and newly-inaugurated President Barack Obama includes billions of dollars in new funding for the National Institutes of Health and other research agencies, as well as a major funding plan for a health information technology program.

The stimulus package, which currently is in the US House of Representatives, offers $3.5 billion to NIH, $460 million for renovation at the US Centers for Disease Control and Prevention, a total of $20 billion to back health information technology initiatives, and billions for other agencies that fund biomedical research and genomics, according to the House Ways and Means and Appropriations Committees.

NIH funding has seen only very modest funding increases over the past few years. Who benefits from this? Generally the pick and shovel providers of biotechnology, whose sales into the research committee are significantly influenced by levels of acedemic spending. Here is a list from an index maintained by GenomeWeb