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Bioscience Group Warns Policymakers Against Complacency
Date:1/10/2008

Despite extraordinary growth, life sciences industry faces a host of policy

challenges that threaten its viability in California and nationally

SAN FRANCISCO, Jan. 10 /PRNewswire/ -- BayBio released today the flagship industry study, BayBio:IMPACT 2008, providing a broad overview of the productivity of Northern California's life sciences industry -- the most productive life science research cluster in the world. To ensure continued growth and address current barriers, BayBio calls for civic leaders and policymakers to take immediate action.

Northern California currently markets 408 innovative life-saving drugs and technologies, housing one-third of the U.S. life sciences industry. The region continues to deliver novel approaches to virtually all diseases, especially epidemics such as diabetes, obesity, infectious disease and cancer. Additionally, Northern California's life sciences industry has pioneered the path for other hubs, providing key insight based on its own unique experience and leading the way to personalized medicine becoming a reality.

BayBio:IMPACT 2008 Key Statistics

-- 408 marketed products, 492 products in Phase II and Phase III clinical

trials, up 25 percent over 2007

-- 90,000 employees, accounting for more than $6 billion in payroll

-- Estimated new jobs created in the past 12 months: 6,000

-- 1,377 biotech companies in Northern California

-- Collective market capitalization: $144 billion

-- Average time for FDA approval of a new drug: 14 years

-- Average cost for development of a new drug: $800 million

"Devices, diagnostics and therapies developed in Northern California are in clinics everywhere, making an enormous impact on people's lives across the globe. With every single product, we are reminded that this is the most cutting-edge industry of all," said Matt Gardner, BayBio President. "Yet, we still face many hurdles, and complacency among policymak
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SOURCE BayBio
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