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Jim Greenwood on the Road: Opening Bell at NASDAQ

March 31, 2015
Jim Greenwood, BIO’s President and CEO, rang the opening bell this morning at the NASDAQ MarketSite in New York. Joining him on the stage were a number of BIO members and affiliates, including NewYorkBIO Executive Director Nathan Tinker, Pennsylvania Bio President Christopher Molineaux, DelawareBio Chairman Christopher Yochim, and BioNJ President Debbie Hart. Several BIO member companies were also represented, including Acorda Therapeutics President and CEO Ron Cohen, who also serves as Vice Chair of BIO’s Health Section Governing Board.

The presence of these industry leaders is a testament to the power of the region’s biotechnology sector. The tri-state area area including Pennsylvania, Delaware and New Jersey iss home to companies representing 80 percent of US pharmaceutical companies. The full spectrum of the region’s impressive biotech sector will be represented at the 2015 BIO International Convention this summer in Philadelphia, June 15-18.

In his remarks, Greenwood noted that 2014 was a record year for the biotechnology industry. It was a year that saw the most new drug approvals in nearly two decades, as well as major advances against diseases including cancer, Hepatitis C, and Cystic Fibrosis. It was also an impressive year financially, with 81 biotech companies going public – 79 of them on the NASDAQ. The NASDAQ Biotechnology Index (NBI) was up 33 percent last year, and is up about 15 percent so far this year.

Greenwood also remarked that that strong performance in the financial markets means that critical capital will be going to innovative, cutting-edge science. It means investment in new breakthroughs and technology that will transform our society and bolster our economy. And it means the growth of companies that will change the way key sector of our economy – health, energy, and agriculture – operate in the 21st Century.