I worked in academics for a while, and I very much enjoyed it. But I wanted to be a little closer to seeing what I did have an impact on patients. Here, I have that opportunity. I can bring something that I’ve discovered in the lab and actually still have a connection to it when it goes into a clinical trial.
The story gets more interesting when we consider the industry’s job multiplier effect. Biopharmaceutical companies put down roots in communities across the country, generating local jobs in everything from supply chain to retail to personal services. The biopharmaceutical sector’s economic output, which represents the value of goods and services produced, totaled more than $558 billion in the United States in 2014. The sector supported another $659 billion through vendors, suppliers and workforce spending, for a total of $1.2 trillion. This output is key to creating millions of U.S. jobs and growing local economies.