US Biopharmaceutical Industry Creates more than $1.1 Trillion in Economic Output

20 February 2020

GMP News

According to the report by TEConomy Partners, the competitive ecosystem of the industry constantly pushing for new medicines is a major driver of US economic growth. The report states that while some states have significantly more employment in the biopharmaceutical industry than others, the industry as a whole supports a sizable number of jobs in every US state, the District of Columbia and Puerto Rico.

Aside from the direct economic impact of the US biopharmaceutical industry, the report also shows that the jobs it provides are high-paying, resulting in larger tax revenues across the US.

Some of the key conclusions from the report are that the US biopharmaceutical industry:

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