Pharma A Force To Be Reckoned With In Bay State
Since the historic sequencing of the human genome a decade ago, pharmaceutical research and biotechnology companies in Massachusetts have surged and now account for just under 7 percent of total global drug development.
Much of the state’s pharmaceutical research involves cutting-edge work. In fact, “Business Facilities” ranked Massachusetts second in biotechnology strength just behind California in its annual survey last year.
The state’s steady pharmaceutical and biotechnology growth since 2000 has provided a tremendous boost to patients all over the world and the Massachusetts economy. The numbers are impressive on the economic front:
• Massachusetts now has more than 430 biotechnology companies, including 277 that are developing new medicines, according to the Massachusetts Biotechnology Council.
• Pharmaceutical research and biotechnology companies in the Bay State employed about 46,000 employees in 2008, up from a little over 30,000 in 2001. The total 2008 payroll was more than $4 billion.
• The Massachusetts pharmaceutical and biotechnology industry grew by 42.6 percent between 2001 and 2008, as compared to overall Massachusetts employment, which declined by 56,000 jobs, or 1.7 percent, between 2001 and 2007, MassBio says.
• The state has a healthy mix of start-up and veteran companies — 16 of the top 50 biopharmaceutical companies by revenue on the Forbes 500 list for 2009 have a Massachusetts presence.
• And the state continues to attract new development — Bristol Myers-Squibb is expected to complete one of the world’s largest manufacturing facilities for biologics in Devens in 2011.
The pharmaceutical research and biotechnology companies in Massachusetts are among the world’s most innovative, investing about $3 billion in research and development in 2006. And as the four most recent surveys of the Pharmaceutical Research and Manufacturers of America (PhRMA) show, that trend is clearly continuing today.
Pharmaceutical research and biotechnology companies with headquarters and/or facilities throughout the state are today researching and developing 541 medicines to treat diabetes and its closely related conditions, HIV/AIDS and medical disorders that affect women and children. The most recent PhRMA surveys on medicines in development show Massachusetts companies are working on:
• 91 medicines for diabetes and related conditions.
• 104 medications for the special health needs of pediatric patients.
• 349 treatments for the diseases and medical conditions that disproportion-ately affect women and diseases that affect only females.
For women, companies are developing a wide range of treatments, including medicines for Alzheimer’s disease, Type 2 diabetes, osteoarthritis, rheumatoid arthritis, depression, migraine headaches, chronic obstructive pulmonary disease (COPD), anemia, fallopian tube cancer, breast cancer and ovarian cancer.
Medicines in development for Alzheimer’s are vitally important to women, because in 2006 they accounted for more than 70 percent of the nation’s Alzheimer’s disease deaths. In the case of diabetes, more than 11 million American women over the age of 20 have it.
For children, Massachusetts companies are performing a crucial public service by developing medicines for many of the very rare, but debilitating disorders that afflict pediatric patients, including cystic fibrosis and neuroblastoma. The firms are also developing new drugs for diseases that are more widespread, including asthma, which affects nine million American children.
Additionally, Bay State companies are developing treatments for growth hormone deficiency, Type 1 diabetes, allergies, lupus, metastatic sarcomas and autism.
Jeff Bond is senior vice president at the Pharmaceutical Research and Manufacturers of America (PhRMA) in Washington, D.C.
WBJ Web Partners
Most Recent
Most Recent
0 Comments