Biotech Sales May Hit $4 Billion by Mid-1990s
SAN FRANCISCO — Biotechnology product sales could reach $4 billion by the mid-1990s, a top financial analyst says.
David H. MacCallum, managing director of health care at Hambrecht & Quist Inc., an underwriting and investment firm, calls biotech “without doubt the most vibrant of any sector in health care and possibly in American industry.â€
He notes that sales reached $1 billion in 1990 and could hit $2 billion by 1992.
Hambrecht & Quist says Amgen Inc. of Thousand Oaks is the industry leader.
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