The Biotechnology Innovation Organization (BIO) today released new data on the bioscience industry in the United States.The new report, The Bioscience Economy: Propelling Life-Saving Treatments, Supporting State & Local Communities, analyzes the bioscience industry’s economic footprint, the significant role of small- and mid-sized companies, and the industry’s response to the COVID-19 pandemic.The nation’s bioscience industry employed 1.87 million workers across more than 101,000 U.S. business establishments in 2018.The bioscience industry’s total economic impact on the U.S. economy totaled $2.6 trillion dollars in 2018, as measured by overall output.Small and mid-sized biopharmaceutical companies comprised 71% of total biopharmaceutical industry employment and 99% of the business establishments.Smaller biopharmaceutical firms play a key role in innovation and have accounted for 60% or more of all FDA drug approvals each year over the past three years (2017-2019).As of mid-May 2020, there were more than 400 drug programs in development aimed at eradicating the COVID-19 disease, including 100 vaccine programs and 135 antiviral drug programs.“For years, this report has put a spotlight on the immense impact America’s bioscience industry has on the economy, job creation, and economic output. Now, as we endure the Coronavirus pandemic, it is encouraging to see industry at record strength as it took on the threat,” said Pete Pellerito, BIO Senior Policy Adviser for Federal and State Economic Development and Technology Transfer Initiatives.“The bioscience industry has a strong track record of near continuous growth and will be more important than ever to help end the pandemic and rebuild our global economy,” said Ryan Helwig, Principal and Project Director with TEConomy Partners.The state-by-state industry assessment is the ninth in a biennial series, developed in partnership by TEConomy and BIO, and studies the state of the U.S. bioscience…

Will lead discussion on race and equity with industry leaders Drs. Tony Coles, Ted Love, and Jeremy Levin next week In the wake of tragic deaths and civil unrest, BIO’s President and CEO Dr. Michelle McMurry-Heath announced she will lead a panel discussion next week at BIO Digital with industry leaders on the state of race and equity within the biotechnology industry.  Following the announcement, Dr. McMurry-Heath shared her thoughts on events that have taken place in recent days: “To say our country is at a crossroads would be an understatement. For the past few months, the world has been confronted by an unprecedented challenge in COVID-19, the likes of which we have not experienced in quite some time. Our BIO member companies have rallied to heed the call, working around the clock in the hopes of not only developing near-term solutions, but also long-term cures. And while this represents a more recent challenge, a more chronic disease has continued to plague the United States and many nations around the world for quite some time – racism. “It’s a word most of us are uncomfortable uttering in polite company, but one that we no less must get comfortable addressing. The senseless killings of George Floyd in Minnesota, Breonna Taylor in Kentucky and Ahmaud Arbery in Georgia have all forced the nation to confront an ugly truth, and that is, despite the tremendous progress we’ve made, we still have a long way to go.  “The peaceful protests taking place today are an important reminder that, only when the voices of Black Americans are heard and their experiences fully understood, will we begin the important process of healing that our nation so desperately needs in this moment. For our part, BIO stands with these peaceful protestors and hope that these concerns are not only amplified in the streets, but in the boardrooms and the halls of political power across our country that serve as important agents for change.  “When I decided to pursue…