To the Life Sciences Community of Pennsylvania:
This morning at our annual conference, Life Sciences Future, we released a new economic impact report on the life sciences in Pennsylvania. This research, commissioned four months ago by Life Sciences Pennsylvania and conducted by KPMG, presents a new and fresh focus on the life sciences community.
We should all be proud of the findings of this study. They reflect our community and its evolution from a reliance on large anchor pharmaceutical companies to an ecosystem that includes hundreds of start-up biotech, pharma, medical device and diagnostic companies, as well as academic research, CROs, digital health start-ups, contract manufacturers and distributors, just to name a few.
Some highlights from the report:
- More than 112,000 directly employed by life sciences establishments with an overall employment impact of 342,000
- Direct annual economic impact of $48.8 billion and a total impact of $88.5 billion
- More than half of the life sciences establishments employ fewer than 10 people
This report reinforces our optimism about the future of the life sciences in Pennsylvania and reflects what we intrinsically knew. Our very diverse life sciences community has evolved rapidly, is unique in its make-up, and positions Pennsylvania for continued global leadership in the science and business of discovery, development, manufacturing and commercialization of treatments and cures for patients.
You can view the full report by clicking here: http://bit.ly/2haIivO
Additionally, we have issued the following news release to key media outlets this morning: http://bit.ly/2fvAPny
Thank you for your continued support.
All the best,
Christopher P. Molineaux
President & CEO