More than 100 leaders in the Bio, Pharma, and Health Industries gathered at Delaware Technical and Community College in Wilmington, Delaware on Friday, June 25 to hear from Governor Jack Markell, Former U.S. House Majority Leader Richard Gephardt, and Rich Fante, President of AstraZeneca US and Regional VP North America, as they announced the findings of a report from the Council for American Medical Innovation about the future of Medical Innovation.
Here’s some excerpts from Media Coverage of the event:
The United States must invest more aggressively and stress development of more scientists if it is to retain its position as the worldwide leader in medical innovation, with the burden falling on government and community leaders to foster growth, former U.S. House Majority Leader Richard Gephardt said Friday.
“It is critical to our national and economic interests that we own medical innovation in the future as much as we owned mechanical innovation in the past,” Markell said. “Big and serious companies are moving medical companies overseas. … We want these companies to stay here and grow here.”
Released at the conference was a 62-page report that focused on problems in the current U.S. medical technology system and suggested improvements. The report was essentially a compendium of interviews with 72 experts in the biomedical and capital investment industry, as well as advocacy groups leaders.
Four major themes from the report emerged:
•More public/private partnerships are need to bring research to market.
•Government needs to provide better research and development tax credits and adopt favorable tax policies to keep manufacturing jobs stateside.
•The U.S. Food and Drug Administration regulatory process must be overhauled so new drugs and devices can be evaluated sooner.
•The bioscience curriculum in public schools must be significantly enhanced.
At the event, CAMI and We Work for Health unveiled a public policy agenda based on the recent Battelle study, “Gone Tomorrow? A Call to Promote Medical Innovation, Create Jobs, and Find Cures in America.” The study, commissioned by CAMI, reflects direct feedback of leaders representing patients, academia, private industry, research, labor, venture capital, government, and economic development.
Medical innovation generates high-quality jobs, and if properly fostered, could generate many more across the state. Despite tough economic times, the biomedical industry grew 14.4 percent in the last jobs cycle, compared to 4.3 percent for all other industries. In Delaware, biopharmaceutical and related fields directly employ 11,500 workers in 247 companies according to a report published in July 2009 by the Center for Applied Demography and Survey Research at University of Delaware. Medical innovation holds the promise of finding more cures for more diseases at a faster rate and Delaware companies are leading the way in this important research and development.
Despite tough economic times the Biomedical industry grew over 14-percent in the last jobs cycle. No state has been better at this than Delaware. Bio-pharmaceutical and related fields alone have directly employed nearly 12,000 workers in 247 companies.
The following are videos from the various speakers at the event: