Research On Bio-Pharm Industry Investment Opportunities

This paper discuss the investment opportunities of Bio-Pharm industry, we divide Bio-Pharm industry into biological vaccine, biological diagnostics, recombinant protein drugs, antibody drugs, gene therapy drug and biochip industry by the stand of the direct investor.To choosing the best sub-field, we use market structure analysis method in industrial organization theory. In this paper, we mainly analyze industrial environment, industrial policy guide of the government, the degree of industrial concentration, access barriers, technical level of product and research direction, then we give the summary table of choose of investment, investors can choose investment opportunities according to risk preference.In another, we analyze investment opportunity in continuous-time, which is the question "when to invest". In this paper, we give two mathematical models, one is used in which invest value and cost change at fixed rate, the other is used in which invest value change randomly. In other hand, we additionally consider the opportunity cost and amend the discount rate by consider the degree of risk aversion.