Navigation Links
Research Demonstrates Possible Michigan Job Losses from Sectors Supported by Biopharmaceutical Companies
Date:9/27/2011

WASHINGTON, Sept. 27, 2011 /PRNewswire-USNewswire/ -- Thousands of jobs in Michigan supported by the biopharmaceutical research sector would be threatened if harmful policies – such as imposing new taxes in the Medicare prescription drug program – were enacted by federal policymakers.

From research to technical work, manufacturing to construction and other building services, equipment suppliers to child care services, the biopharmaceutical sector supports a broad array of high-quality jobs.

A report by the Battelle Technology Partnership Practice shows that reducing the biopharmaceutical sector's annual revenue by $20 billion would be a serious blow to employment in key regions throughout the country, including in Michigan, where nearly 5,000 jobs would be permanently lost. Overall, the impact would be a potential permanent loss of 260,000 jobs nationwide.  

While the Battelle research is not specific to any one policy or event, proposals being considered, such as government-mandated price controls in Part D, would be expected to have an annual revenue impact of this magnitude.

The President and some in Congress have proposed government-mandated price controls in Medicare Part D as part of ongoing budget discussions. Such a policy would have a dramatic negative effect on Michigan's economy and patients, and could undermine the success of the Part D program.

"Biopharmaceutical companies produce the highest-value jobs – the kinds of jobs that can drive future economic growth in Michigan. At a time when the U.S. is facing a jobs crisis, as evidenced by Michigan's 11.2 percent unemployment rate, it is critical that our policymakers embrace dynamic and innovative business sectors such as the biopharmaceutical industry and refrain from stifling job growth through shortsighted proposals," said Pharmaceutical Research and Manufacturers of America (PhRMA) President and CEO John J. Castellani.

Beyond jobs, nearly $35 million in state and local taxes would be jeopardized – including over $5 million generated directly by the biopharmaceutical sector, the report shows. In addition, Michigan would lose over $1 billion in total economic output.

Equally important to protecting jobs is protecting the health of Michigan's seniors. Medicare Part D has been an unparalleled success, providing seniors with access to life-saving medicines, generating high satisfaction rates and costing far less than original government projections. Over 45 percent of Michigan's Medicare beneficiaries are enrolled in a Part D plan, according to the Centers for Medicare and Medicaid Services.

"Policies that discourage R&D and cutting-edge science – inevitably slowing the development of needed future medicines – are not fair to seniors waiting for new treatments against our most challenging and costly diseases," Castellani said.

"Our economy is at a critical juncture. We have to create jobs, not lose more. We have to support innovation, not interfere with the most innovative sectors of our economy. We must continue to improve the health of America's seniors, not increase costs and erect barriers to promising scientific breakthroughs," he added.

The research, supported by PhRMA, is available on our website at: http://www.phrma.org/sites/default/files/84/battelle-phrmabiopharmaceuticalsimpacts-usandstatesummary.pdf

The Pharmaceutical Research and Manufacturers of America (PhRMA) represents the country's leading pharmaceutical research and biotechnology companies, which are devoted to inventing medicines that allow patients to live longer, healthier, and more productive lives. PhRMA companies are leading the way in the search for new cures. PhRMA members alone invested an estimated $49.4 billion in 2010 in discovering and developing new medicines. Industry-wide research and investment reached a record $67.4 billion in 2010. 

Find PhRMA Online:


For information on how innovative medicines save lives, visit: http://www.innovation.org

For information on the Partnership for Prescription Assistance, visit: http://www.pparx.org

For information on ensuring the flow of medicines during public health emergencies, visit http://www.rxresponse.org


'/>"/>
SOURCE Pharmaceutical Research and Manufacturers of America
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. The Multiple Myeloma Research Consortium (MMRC) and Proteolix Initiate Phase 2 Clinical Trial Investigating Carfilzomib for the Treatment of Multiple Myeloma
2. Multiple Myeloma Research Consortium (MMRC) Partners with Novartis to Advance Phase II Study of Deacetylase Inhibitor
3. Lexicon to Present Research Results at American Chemical Society Meeting Regarding Target of LX1031 Drug Candidate
4. Researchers at Cleveland Clinic Identify Site of Dysfunction in HDL, Carrier of Good Cholesterol
5. Video: New Research Discovers Independent Brain Networks Control Human Walking
6. Quark Pharmaceuticals Extends Research Agreement with State University of New York for Proprietary siRNA Compounds for Acute Hearing Loss
7. Cleveland Clinic Researchers Identify Mechanism Behind Platelet Function and Potentially Fatal Blood Clot Formation
8. HistoRx and Radiation Therapy Oncology Group Initiate Brain Tumor Biomarker Research Partnership
9. Diabetes Research Institute Invention Promotes Growth of Stem Cells into Insulin-Producing Cells
10. Researchers Identify Virus Possibly Responsible for Declining Honeybee Population Using 454 Sequencing Technology from Roche
11. Peregrine Researchers Report Data Showing Bavituximabs Potential to Shrink Human Prostate Tumors in Model of Relapsed Disease
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:7/31/2017)... MEMPHIS, Tenn. , July 31, 2017 Three Tru-D ... in Yongsan, South Korea . Tru-D, short for "Total ... patient and operating rooms after an environmental services (ES) professional cleans the ... ... "Although ...
(Date:7/28/2017)... CHICAGO, July 28, 2017 Hill-Rom Holdings, Inc. ... fiscal third quarter ended June 30, 2017, and updated ... For the fiscal third quarter, ... to $0.68 per diluted share in the prior-year period. ... of $0.39 per diluted share primarily related to the ...
(Date:7/27/2017)... 27, 2017  Zimmer Biomet Holdings, Inc. (NYSE and ... June 30, 2017.  The Company reported second quarter net ... the prior year period, and an increase of 2.1% ... points of contribution from the LDR Holding Corporation acquisition, ... quarter of 2016, or 0.3% on a constant currency ...
Breaking Medicine Technology:
(Date:8/18/2017)... VA (PRWEB) , ... August 18, 2017 , ... ... asset protection services and financial consultations to communities throughout the greater DC region, ... K9 with the goal of rescuing local animals and training them to be ...
(Date:8/18/2017)... ... August 18, 2017 , ... MLM ... that serves communities throughout southern Florida, is working to support the Take Stock ... children from low income families. , The Take Stock In Children Foundation (TSC) ...
(Date:8/18/2017)... ... August 18, 2017 , ... The Golseth Agency, a ... Dallas/Fort Worth area, is spearheading a regional charity campaign organized to provide support to ... early June of this year, Christina and her children returned from out of town ...
(Date:8/18/2017)... ... ... and Overseer at The House of Yahweh in Abilene, Texas, has released a new publication ... mother of the Savior whom the world calls “Mother Mary”. Yisrayl says when compared to ... this historical woman. , “The world bows, kisses the feet of, cries out to ...
(Date:8/18/2017)... , ... August 18, 2017 , ... ... and call tracking and monitoring solutions, announced today the launch of a redesigned ... a modern navigation and aesthetic, fully responsive design, and an enhanced search directory ...
Breaking Medicine News(10 mins):