I'll read the replies in more detail later, but briefly:
1) There are specific jobs in biotech that, I think, are more suitable for someone with physics training. Namely, things like computational biology and (AFAIK from talking to biological science professors) systems biology. Probably synthetic biology and bioengineering too. Much of this is based on impressions I have gathered from people already in the field. I have seen job ads in the biotech industry specifically for people with physics or related backgrounds, and it tends to be in these fields. I mentioned at least a couple of these previously, and it should be pretty clear that a computational astrophysicist (for example) wouldn't be seriously considered for a protein biochemistry position (for example).
2) All of the people who I know that work in biotech obtained their jobs through "standard channels". To the best of my knowledge they literally simply applied on the company website, had a phone/screening interview at some point (generally 3-6 months later for positions they are not rushing to fill), then had an all day interview. I don't know if there are other ways to get positions in the biotech industry. So it looks like finance and software are just way different to what I'm familiar with.