Europe is becoming a center for the development of biomaterials, as the industry becomes increasingly 'globalized'. From a materials perspective, it is clear that all the activity in the biomaterials/medical device industry is in polymers, and bioabsorbable polymers represent a significant market opportunity. To make profits in biomedical polymers, a chemical company must participate in the 'value added chain', whereby the supplier of the chemical (polymer) participates in the profits of the sale to the end-user.