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Economic Impact of the Biopharmaceutical Sector*

ImagePharmaceutical research and biotechnology companies remain an economic force throughout New York, and a new study shows the industry has strong potential for continued long-term growth. An analysis of the impact of the biopharmaceutical sector on the economy of New York, using data primarily from 2006, indicates that the biopharmaceutical industry generated $29.1 billion in total output, of which $16.0 billion was generated from direct employment. New York State is responsible for 6.8% of all direct biopharmaceutical output nationally.
  • Published in Health
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