Week in Review: Innovation Provides Value for Patients…And Everyone Else, Too

Week in Review: Innovation Provides Value for Patients…And Everyone Else, Too

06.07.13 | By

Medical innovation does an enormous amount of good for patients, but there is also a broader societal impact: innovative research positively impacts the economy, as well. Indiana Governor Mike Pence, for example, discussed on Tuesday the positive impact biopharmaceutical research has on his state and his commitment to increasing the sector’s presence. “Indiana’s life sciences industry has tremendous potential for growth,” Pence said. “We are actively working to expand the partnership among life sciences and biopharmaceutical companies and our state’s universities and hospitals to grow the economy, to attract and retain talent and to address the critical health issues we face today.”

BioCrossroads, a catalyst organization for life sciences development in Indiana, confirmed the good news for the Hoosier state. The organization issued a report that found pharmaceuticals accounted for approximately $5 billion of the $7.4 billion in life science product exports from the state in 2009. And life science exports overall nearly tripled in Indiana from $2.5 billion to $7.4 billion between 2002 and 2009, ranking the state third-highest, following California and Texas.

In addition to these posts, the American Society of Clinical Oncology (ASCO) annual meeting this week highlighted the importance of innovation and medical advances and reinforced the value medicine provides to patients. Every year, the research presented at ASCO changes the way oncology is practiced; it’s a game-changer for physicians and the medical community. For example, a blog post from the meeting noted that in 2002 there were about 10,000 PubMed citations mentioning “oncology.” Last year, this increased to 23,000, providing new data points and information to caregivers that ultimately benefits patients.

Medicine helps patients and caregivers in invaluable ways, but its reach is even further than the incredible impact on patients.  In addition to curing disease and saving lives, the discovery of new medicine helps strengthen local economies and create great jobs.  Stay tuned for more blogging on how the discovery of new medicines could impact your state. 


Hide Comments

More On PhRMA — powered by PhRMApedia


Cost in Context