Today, the Biotechnology Innovation Organization (BIO) and the Council of State Bioscience Associations (CSBA) released new national and state-level data on the U.S. bioscience industry's economic performance, its impacts, and its geographic footprint.The report, "The U.S. Bioscience Economy: Driving Economic Growth and Opportunity in States and Regions," analyzes the sector's economic impact via employment, overall output, wages/benefits, and tax revenue.Key takeaways from the report include:The industry's economic impact, as measured by overall output, totaled more than $3.2 trillion in 2023. In 2023, the nation's bioscience industry employed nearly 2.3 million Americans across almost 150,000 U.S. business establishments and in every U.S. state. The sector indirectly supports nearly 8 million additional jobs.The industry's employment has increased significantly, by nearly 15 percent since 2019, maintaining its long-term growth trend and well outpacing the nation's overall private sector job growth during this period.Between 2019 and 2023, 49 states, DC, and Puerto Rico experienced net job growth in the bioscience industry."America’s bioscience sector is vital to addressing the world's most pressing challenges -- from pandemics and national security to preventative health and environmental sustainability. Industry leaders and researchers overcome tremendous obstacles every day to advance innovative solutions and help people lead healthier lives, and this report shows how the sector continues to enrich communities, create jobs, and grow economies across our great country," said John F. Crowley, BIO’s President & CEO. “For two decades now, this report series has shown the growth and impact of the bioscience industry on the economy. In the wake of the COVID-19 pandemic and economic downturns, it is clear that the biosciences remain a key sector of the growing innovation economy,” said Pete Pellerito, BIO Senior Policy Adviser for Federal and State…

BIO President & CEO John F. Crowley released the following statement:“A healthy and prosperous society is vitally important to the American people and to the world. The public health, economic security and our national security are best served by strong leadership that respects and advances science, nutrition and medicine and ensures that the United States and our allies continue to lead the world in biotechnology. Indeed, the rich tradition of ‘gold-standard scientific research’ and ‘evidence-based science’ have always been at the core of our life-saving work to prevent, control and cure disease—and to provide access to healthy food security for all. This is the mission of America’s biotechnology companies. I have every confidence that we will continue to thrive and deliver on this important mission ahead. The world cannot wait. We look forward to working closely with President-elect Trump, his incoming Administration, and members of Congress on both sides of the aisle to achieve these mutual goals.” About BIOBIO is the premier biotechnology advocacy organization representing biotech companies, industry leaders, and state biotech associations in the United States and more than 35 countries around the globe. BIO members range from biotech start-ups to some of the world’s largest biopharmaceutical companies – all united by the same goal: to develop medical and scientific breakthroughs that prevent and fight disease, restore health, and improve patients’ lives. BIO also organizes the BIO International Convention and a series of annual conferences that drive partnerships, investment, and progress within the sector. Learn more at bio.org

“The Biotechnology Innovation Organization (BIO) applauds today's announcement from the USDA's Animal and Plant Health Inspection Service (APHIS) expanding the scope of biotechnology exemptions for modified plants under 7 CFR part 340. This promising update supports the latest advancements in science and biotechnology, encouraging innovation across a broader range of agricultural products. This progress toward aligning regulations with conventional breeding methods helps ensure that new, safe products can be brought to market more swiftly and efficiently, benefiting consumers and supporting sustainable agriculture.“BIO played a key role in urging the agency to consider these exemptions and believes these modifications will enable not only major biotech firms but also smaller businesses and academic institutions to drive cutting-edge agricultural development, benefiting both the U.S. economy and global food security.“This inclusion of stakeholder input—considering nearly 6,500 comments—is a testament to APHIS’ commitment to transparency and collaboration. BIO looks forward to working with the agency to further reduce barriers for innovators and expand the diversity of crops developed through biotechnology.” About BIOBIO is the premier biotechnology advocacy organization representing biotech companies, industry leaders, and state biotech associations in the United States and more than 35 countries around the globe. BIO members range from biotech start-ups to some of the world’s largest biopharmaceutical companies – all united by the same goal: to develop medical and scientific breakthroughs that prevent and fight disease, restore health, and improve patients’ lives. BIO also organizes the BIO International Convention and a series of annual conferences that drive partnerships, investment, and progress within the sector. Learn more at bio.org

BIO strongly supports a manufacturer’s ability to use a 340B rebate as an appropriate option to make 340B pricing available to covered entities."Manufacturers should have the choice to effectuate 340B pricing in the manner they deem most efficient and appropriate under the statute," said BIO's EVP for Health and Policy Programs, Phyllis Arthur. "A 340B rebate is, and should be, among the legally permissible options. We strongly support efforts that could bring the type of transparency needed to protect the integrity of the program.”A copy of BIO's prior letter to HRSA is available here: https://www.bio.org/letters-testimony-comments/bio-letter-hrsa-340b-rebate-model About BIOBIO is the premier biotechnology advocacy organization representing biotech companies, industry leaders, and state biotech associations in the United States and more than 35 countries around the globe. BIO members range from biotech start-ups to some of the world’s largest biopharmaceutical companies – all united by the same goal: to develop medical and scientific breakthroughs that prevent and fight disease, restore health, and improve patients’ lives. BIO also organizes the BIO International Convention and a series of annual conferences that drive partnerships, investment, and progress within the sector. Learn more at bio.org