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New Study Details Foreign Efforts To Lure Biopharmaceutical Companies
Date:5/17/2012

p>For example, other countries are increasingly seeking to make substantial public investments in R&D infrastructure, fostering R&D investment via tax and other research incentives, focusing on attracting and growing talent in related employment fields, ensuring access to capital and fostering public-private partnerships.

In addition, many countries have their own national innovation agenda specifically focusing on biomedical research.

Countries selected include a mix of developed countries with existing biopharmaceutical presence (Australia, Canada, France, Germany, Ireland, Israel, Italy, Japan, Sweden, the United Kingdom, and the EU) and emerging countries that are targeting the sector for new growth (Brazil, Chile, China, Russia, Saudi Arabia, Singapore, South Africa and South Korea).

"Until the early 1990s, Germany was known as 'the world's medicine cabinet,'" said Castellani. "Unless we take steps to support innovative industries at a national level, we too will lose our standing, and with it, our jobs. Without a national biomedical innovation agenda, we're not pitting America up against other countries – we're pitting our states up against like-minded foreign governments. So states with vibrant biopharmaceutical research clusters, like North Carolina and Massachusetts, aren't just competing with each other. They're competing with countries like Singapore."  

In the U.S., the biopharmaceutical sector is a large contributor to our economic landscape, with more than 650,000 direct jobs (supporting a total of nearly 4 million jobs) and an economic output that totals more than $900 billion. Also, the sector accounts for nearly 20 percent of all research and development investment by businesses in America. The impact of the sector goes beyond jobs – over the last decade, biopharmaceutical companies have brought more than 300 new medicines to the patients who need them.

The full report can be found '/>"/>

SOURCE Pharmaceutical Research and Manufacturers of America
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