U.S. Biotechnology Leadership
For the U.S. to maintain leadership in biomedical innovation, the policy and regulatory environments need to keep pace with the successes happening in labs across the country.
The U.S. Produces More New Drugs Than the Rest of the World Combined
The U.S. produces more new drugs than the rest of the world combined. In addition, U.S. bioscience firms employ 1.7 million people in communities across the country.
Effective Public Policy is Critical to Maintaining Leadership for Long-Term Success
U.S. headquartered firms are responsible for more than 60% of current worldwide clinical programs conducted by emerging biotechnology companies. These trials will drive future medical breakthroughs and economic growth.
Maintaining U.S. Leadership in Biotechnology
To maintain U.S. leadership, the policy and regulatory environment needs to keep pace with innovations happening in labs across the country. The only thing that can impede long-term U.S. biotechnology leadership is short sighted policy proposals that stifle innovation and scare away investment. Entrepreneurs and investors need policy certainty to be successful at the incredibly difficult task of drug development, where more than 90% of endeavors fail.
Biotechnology Requires Superhuman Stamina and Bottomless Pockets
The Economist Magazine said it best: "Creating new drugs through biotechnology is at the risky end of a business in which superhuman stamina and bottomless pockets are minimum requirements."