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May 18, 2016.
The biopharma industry supported nearly 854,000 direct jobs and another 3.5 million jobs and more than $1.2 trillion in economic output in the United States in 2014, according to new research prepared for the Pharmaceutical Research and Manufacturers of America (PhRMA).
The report, which analyzed state and national data across the large-scale biopharmaceutical sector supply chain, highlights how the discovery, development and delivery of innovative medicines translate into higher-wage jobs, increased tax revenue and greater economic output in our local communities.
Key findings from the examination by TEConomy Partners, LLC of the broad biopharmaceutical value chain include the following: