Biotechnology in Italy 2007 - Financial and strategic analysis
As already mentioned, this research does not intend to survey companies engaged in services, regulatory, legal and financial consultancy and generic biomedical production.
The process of recognising biotechnological companies In order to guarantee that the analysis be fully comprehensive and thus able to include the maximum number possible of companies that meet the foregoing requisites, a far-reaching and in-depth analysis was conducted throughout the national territory, based upon the following approach. a) Identifying the companies. The identification of the first set of companies meeting the minimum requisites was based upon a thorough analysis conducted company by company, by means of which information was acquired directly from the companies, within the ambit of official national/regional databank data, ministerial web sites, agencies, universities, incubators, science parks, companies, etc. The research was successively conducted by analysing chamber of trade records and financial statements. Final verification took place by making direct contact with the company. b) Selecting the companies. The selection of the companies was the most complex phase as it called for special attention in determining whether or not companies met the methodological requisites as formulated. An initial selection of the companies was made by gathering information from the financial statements of the individual companies, the acquisition of supplementary data on the single firm through qualitative questionnaires and the entering of essential information within a database designed by Blossom Associati and CrESIT. Each company was later analysed for a preliminary inclusion or exclusion assessment, which turned upon whether the requisites defined by a scientific committee made up of Blossom Associati, Assobiotec and CrESIT had been met. In order to guarantee total independence and professionalism in our work, the final selection for definitive approval remained the prerogative of Blossom Associati and CrESIT which, on the basis of all the information acquired, ratified the decision to consider a company as part of the industry or, alternatively, to exclude it. c) Data collection. The collection of the data on the financial statements was prepared by CrESIT on the basis of the indications agreed upon with Blossom Associati. The data was collected by acquiring the financial statements and chamber of commerce records on the companies chosen and of all the principal documents referring to the industry, in line with the methodology of analysis proposed. The numerical evidence set forth in the Report is the product of statistical analyses by CrESIT and Blossom Associati on data and information from the following sources: • Financial statements and notes to the financial statements filed with the chambers of commerce, for the years 2005, 2004, 2003 and 2002; • Chamber of commerce records (both ordinary records and records on shareholding structure) conducted in the period November - December 2006.
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Blossom Associati 2007