A new report from TEConomy Partners, supported by PhRMA, provides estimates of industry-sponsored clinical trial activity in each of the 50 states, including the number of trials active, the number of trial participants, the annual direct investment by biopharmaceutical companies to operate the clinical trial sites, and the total economic impact resulting from that investment, including the indirect economic effects that ripple through local economies.
There are a number of interesting findings in the report:
This report’s focus is solely on investments made at clinical trial sites, and doesn’t capture all of the trial-wide work that occurs across sites, which includes things like trial design, coordination, and data analysis, nor does it capture the substantial investments companies make every year in basic and preclinical research, before projects ever get to the clinical testing phase.
The nationwide economic impact associated with the industry as a whole – including non-R&D activities such as manufacturing and distribution – has been well documented in recent years. This analysis provides a new lens through which to view the economic and scientific footprint of the U.S. biopharmaceutical industry.
What it shows is that industry sponsored clinical trials are not only vital to the development of new treatments and cures for patients, but also play an important role in sustaining economic growth in communities throughout the country.