The evolution of biotechnology

SPECIALIST

After 30 years in the making, David Pinniger, IBT investment manager, takes a look at how the biotechnology industry has evolved.

This month marks the 30th anniversary of the first biotechnology drug approved for human medical use. On the 28 October 1982, the US Food and Drug Administration (FDA) approved Genentech/Lilly’s Humulin – a genetically engineered version of natural human insulin – for the treatment of diabetes. Prior to this, almost all insulin for human use was harvested in slaughterhouses from the pancreases of pigs and cattle. In the intervening period, this synthetic version of human insulin has established itself as one of the standard treatments for millions of people with diabetes, avoiding the...