2. Why you need to invest in MassBio Innovation Services!
3. Despite yearly increases in R&D spending, approvals stagnate 10 20 30 40 50 60 40 30 20 10 1995 2000 2005 50 NMEs and Biologics Approved R&D Spending (US$ Billions) R&D expenditures Approvals Sources: FDA/CDER, PhRMA, PricewaterhouseCoopers Note: R&D spending from non-PhRMA companies not available Courtesy of Ted Torphy, JNJ presented at MassBio Pharma Days
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Editor's Notes
I’m very pleased to be here and thank Bob Culver and his team for pulling together such a great event. I’ll get right to the matter. While 2009 is not the best year to forecast what our economic future will be, we can look at certain trends – with regard to the biotechnology industry.
In 2007, 11 of 18 NMEs came from Biotech or were licensed from Biotech 2008 15 of 22 discovered by biotech/academia
From 2001-2008 – biopharma employment in Massachusetts grew by 42.6% - to over 45,000 jobs, at the same time we lost more than 50,000 jobs in this state.