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Protect Maryland's Bioscience Industry
Date:9/10/2008

ROCKVILLE, Md., Sept. 10 /PRNewswire-USNewswire/ -- The following was released today by the Tech Council of Maryland:

Maryland has made an investment in biosciences that is paying off but it must be safeguarded and trouble looms.

As the American economy struggles and other states seek 21st century economic engines we Marylanders can take heart and pride in one of our state's economic drivers, the bioscience industry. This blossoming industry has expanded over the years with previous start-ups becoming national business leaders and new start-ups appearing on the scene regularly.

These bioscience companies create amazing medicines that improve and save lives as well as bring high quality jobs to Maryland. In just eight years between 1998 and 2006, the number of people employed by bioscience companies in the state increased by more than 50 percent, from 14,490 to 23,300. These jobs are well-paying, with an average salary of nearly $80,000.

To their great credit many of our state and local policymakers have worked with scientists, doctors and entrepreneurs to understand and create a positive environment for economic growth in the bioscience industry in Maryland. In June, the Milken Institute released their 2008 State Technology and Science Index and Maryland was ranked #2 in the country. The index measures states in the best position to achieve high-quality economic growth thanks to its vast array of technology and science assets.

Despite this good news, there is reason for Marylanders to be concerned. There is federal legislation being considered in Washington that could have a great impact on biosciences.

Biosciences are the most advanced and complex of all medicines. Unlike a chemical prescription drug which is a mixture of stable chemicals, biologics are made from proteins and living organisms. Because of their complexity biologics are the most expensive medicines to research. Instead of having 20 or even 200 parts li
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SOURCE Tech Council of Maryland
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