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Hoosiers Work for Health Highlights Impact of Medical Research and Innovation on Indiana Economy
Date:3/26/2009

found that pharmaceutical research and biotechnology companies invested a record $65.2 billion in 2008, a roughly $2 billion increase over 2007. PhRMA member investment reached a record $50.3 billion, a nearly 5 percent increase over 2007.

Michael Eckstut, Principal and Life Sciences and Strategy Practice Leader, Archstone Consulting, commented, "Our research indicates that the biopharmaceutical sector has made a substantial contribution to U.S. economic growth, and that on average, this sector contributed more to GDP on a per employee basis and grew faster than the rest of the economy from 1996 to 2006."

In addition, the local presence of the biopharmaceutical industry has a job multiplier effect, supporting an even greater number of American jobs, the Archstone study found.

About Hoosiers Work for Health

Hoosiers Work for Health is the Indiana chapter of a national initiative that unites health consumers, biopharmaceutical company employees, vendors, suppliers and other business and community partners to demonstrate how these diverse groups are vital to the socioeconomic climate and provide shared benefits and a better quality of life to all. Specifically, the partnership includes local chambers of commerce and research centers, labor, businesses, patient advocacy organizations, provider groups and biopharmaceutical research companies that work together to improve America's health care system and strengthen our economy. More information is available hoosiersworkforhealth.org.

Contact: Michael O'Connor, Hoosiers Work for Health, (317) 684-5473


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