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Chicago's Top Minds Join National Business and Health Leaders in Addressing Medical Innovation, Highlighting Policies Needed to Maintain U.S. Competitiveness in Medical Science and Discovery
Date:4/15/2009

mics at The Wharton School, University of Pennsylvania. This study also found:

  • Biopharmaceutical sector companies invested $2.0 billion in research and development in Illinois in 2006.
  • Direct biopharmaceutical wages in Illinois were estimated to be $3.9 billion in 2006, resulting in an estimated $1.0 billion in federal taxes and $107.3 million in state taxes.
  • In 2008, U.S. scientists and researchers were conducting 21,795 studies to develop medicines targeting cancers, rare diseases, and other important conditions. Of these trials, 3,286 (15% of U.S. trials) were active in Illinois.

Speakers at today's forum discussed the economic importance of medical innovation to the state of Illinois, and the public policies that will make Illinois a good place to conduct world-class life sciences research and business in coming years.

"As Illinois realizes its potential in the important realm of medical innovation, every part of the state will benefit from new jobs, wealth, and breakthrough discoveries," said David Miller, President and CEO of the Illinois Biotechnology Industry Organization. "Biotechnology and medical discovery provide life-saving and life-enhancing medicines not just for Illinois, but for people all over the world. To realize its potential, Illinois needs good legislation and regulatory practices, sound public investments in programs and infrastructure, effective corporate actions, and support for research centers generating commercializable technology."

Panelists also outlined specific policy changes that are needed at the national level in order to create a healthy environment for innovation and discovery - including policies that can attract companies and well-paying jobs to the U.S., promote risk-taking in research and development, encourage more students to participate in science, technology, enginee
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SOURCE Council for American Medical Innovation
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