The biotech and biopharmaceutical sectors seem to be sailing through this recent economic crisis and continuing to grow rapidly, according to a March, 2009 report in Business Facilities, a trade publication for site location professionals.
The sector is poised to experience skyrocketing growth because of an increasing stream of new products in the pipeline, expiring patents on older drugs, globalization plus a trend toward personalized medicine. Together, these factors are sparking fundamental changes in global drug development.
Several regions are shaping up as hotbeds of this biotech surge, including Lexington, Kentucky; Strongsville, Ohio; the state of Iowa; Northeast Pennsylvania; San Antonio, Texas; and Riverside, California.
Not surprisingly, the boom in biotech in these areas is being driven by their close proximity to top state universities and their advanced research facilities, nearby leading teaching hospitals and the “cluster power” of having many firms and trained people concentrated in one area.
The bottom line: if you are looking for start-up capital or a job in the venture capital industry, you’d be wise to check out the full article and focus your research in these jurisdictions.
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