Mass Biopharma Soared in 2010
Employment and venture capital investment in the Massachusetts biopharmaceutical industry reached all-time highs during 2010, according to a report from the Massachusetts Biotechnology Council.
Industry employment topped 48,000 and Bay State biotech businesses received 23.1 percent of all U.S. venture capital, a record share.
The state also leads the nation on biotechnology research and development jobs, which totaled more than 26,000 in 2010. Employment in the industry grew 3.9 percent in 2010 compared to 1 percent the year before.
Drug development companies in the Bay State have nearly 900 investigational drug products in development, which accounts for about 10 percent of the national drug development pipeline and 5 percent of the global pipeline.
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