The 2015 California Biomedical Industry Report

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The 2015 California Biomedical Industry Report

California Healthcare Institute and PwC Report Boom in California’s Biomedical Industry

From press release:

“California leads the nation in the biomedical industry, supporting highly skilled and well-paying jobs in communities across the state,” said California Governor Jerry Brown. “I look forward to continuing to work with leaders from companies and research institutions throughout the state to find solutions that advance new medical technologies, strengthen our economy and contribute to a healthier society.”

“The life sciences sector continues to drive our state’s 21st century economy,” said Todd E. Gillenwater, President and CEO of CHI. “270,000 Californians are employed by over 2,600 companies, with average wages topping $100,000. It is no coincidence that California is also home to 11 of the world’s top universities and that we garner more federal biomedical research dollars than any other state in the nation. No other state or nation has what we have here in California, but they want it. We must work actively to ensure that California maintains an environment that fosters biomedical research, investment and job creation.”

Key Findings

The report is published annually to provide factual insight into the state of California’s biomedical industry and to identify key trends. Noteworthy findings this year:

  • California life sciences companies generated $101 billion in revenue in 2013
  • California scientists received $3.3 billion in NIH research grants in federal fiscal year 2014
  • The industry paid workers $27.4 billion in salaries and wages during 2013
  • California has 2,636 life sciences companies in 2014
  • $3.8 billion in life sciences venture capital is projected to be invested in California companies in 2014
  • California companies have 1,205 new medicines in the development pipeline”

Full release

Additional coverage

San Francisco Business Times: Study: California biomed jobs climb while seed-stage VC cash dwindles More

MedCity News: Report: California life sciences industry showing substantial growth More

November 23rd, 2014|