Abstract

The aim of this paper is twofold: on the one hand, to provide a descriptive analysis of the biotech industry in Italy, as far as the economic and financial structure is concerned; on the other hand, to provide a methodology in order to show the different roles played by companies within the biotech production chain (filière approach). Using a cluster analysis based on income statement and balance sheet items we separate manufacturing companies from R&D or commercial ones: the income statement and balance sheet items vary significantly among the groups. Using a Data Envelopment Analysis (DEA) the paper shows how factor productivity differs according to the role played by companies within the industry. The paper suggests a methodology to be applied not only in biotech but also in other high-tech industries.