The global biotechnology industry's revenues are growing at strong rates, product approvals are bringing innovative drugs to market, and the long- elusive goal of profitability is quickly approaching.

Since our first report 20 years ago, we've seen historic scientific advances and dramatic changes in market conditions combine to produce a rapidly maturing industry. Companies from around the globe are pioneering new technologies, platforms, industry segments, and business models.

Dyadic International wouldn't have made the list the year before but did in 2005 after changing its focus.

Deals were a key driver in Asia-Pacific, where companies formed partnerships to position themselves in an environment characterized by brisk growth, increasing competition, and sweeping regulatory changes. There was unprecedented consolidation among Japan's largest pharmaceutical companies, as well as noteworthy deals across the region.

We believe even more so that at least the U.S. public [biotech] sector will be profitable before the end of this decade.

So just take a look at the different prosecution rates and sentencing rules for ghetto drugs like crack and suburban drugs like cocaine, or for drunk drivers and drug users, or just between blacks and whites in general―the statistics are clear: this is a war on the poor and minorities. Or ask yourself a simple question: how come marijuana is illegal but tobacco legal? It can't be because of the health impact, because that's exactly the other way around―there has never been a fatality from marijuana use among million reported users in the United States, whereas tobacco kills hundreds of thousands of people every year. My strong suspicion, though I don't know how to prove it, is that the reason is that marijuana's a weed, you can grow it in your backyard, so there's nobody who would make any money off it if it were legal. Tobacco requires extensive capital inputs and technology, and it can be monopolized, so there are people who can make a ton of money off it. I don't really see any other difference between the two of them, frankly―except that tobacco's far more lethal and far more addictive.