Biotechnology industry manufactures drugs, therapies, vaccines, and other products based on genetically manipulated compounds. From major pharmaceutical manufacturers and other companies seeking to be first with a new product or discovery, biotech firms face stiff competition. High-demand, profitable markets such as cancer or rare disease treatment are driving the demand. To produce drugs, therapies, vaccines, and medical diagnostic tests, biotechnology is used. To produce genetically modified (GM) plants and crops; DNA fingerprinting; environmental products that aid in the clean-up of hazardous waste; and industrial applications such as biofuels, biotechnology is used.
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