Potential growth trajectories for the US biopharmaceutical sector

The Pharmaceutical Research and Manufacturers of America (PhRMA) yesterday released a reportthat outlines two potential growth trajectories for the US biopharmaceutical sector and the top policy factors that enable the industry to innovate and, in turn, contribute to the US economy.

Developed by the Battelle Technology Partnership Practice, the report finds that coverage and payment policies, a well-functioning, science-based regulatory system and strong intellectual property (IP) protections drive US leadership in biopharmaceutical innovation, and if negative trends in these key policy areas continue, jobs supported by the industry would decrease over the next decade. However, if reasonable pro-innovation policies are pursued, the US biopharmaceutical sector stands to retain and add well over 300,000 jobs to the US economy by 2021.

Policies must prioritize innovation