New Video: Clinical trials serve as engine for local economic growth

A 2013 review of biopharmaceutical industry sponsored site-based clinical trials found that they generated $25 billion in economic impact nationwide.

Priscilla VanderVeerNovember 18, 2015

New Video: Clinical trials serve as engine for local economic growth.

riyb_videoWithout clinical trials, new medicines could not be approved and made available to the patients who need them. But beyond connecting patients to new treatments and potential cures for some of the most devastating and costly diseases is the significant economic activity that clinical trials drive in communities across the country.

Research In Your Backyard is a program, sponsored by PhRMA, that highlights the importance of clinical trials to patient health and how clinical trials play a significant role in spurring economic development across the country. Through the program and as an educational resource, PhRMA develops statewide reports and holds local events to highlight the number and type of clinical trials taking place in collaboration with the state’s university medical schools, clinical research centers and hospitals. To-date, 30 reports have been created and multiple events showcasing the role of clinical trials featuring patients, policy makers, researchers and other key leaders in these states have been held. 

A new video explains the importance of these trials to patients and the broader communities in which they live. It also highlights a 2013 review of biopharmaceutical industry sponsored site-based clinical trials, revealing that the industry:

  • Sponsored nearly 6,200 site-based clinical trials with 1.1 million participations;
  • Invested close to $10 billion to conduct clinical trials at sites in 50 states;  and
  • Generated $25 billion in economic impact from conducting clinical trials across the U.S.



Conducting clinical trials to develop new therapies is the most time- and resource-intensive part of the research and development process, but it’s worth the results. Learn more about the clinical trial process here

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