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Report Says Biomedical Industry Remains Strong

January 23, 2002|Ronald D. White

California's biomedical research industry is in strong shape and will provide a significant boost to the state's economy in the next two years, according to a report by PricewaterhouseCoopers and the statewide association that represents the industry.

The state's biomedical R&D system, which includes thousands of businesses, universities and private research institutes, accounted for 225,000 jobs and $6.4 billion in exports to the rest of the world, the report said.

It also paid $12.8 billion in wages and salaries; for Californians, that meant an average annual income of $64,353.

The report also said that 68% of the state biomedical companies said they expect to make big investments in R&D in the next two years.

Though analysts said Tuesday that the industry is primed for growth, there are several potential problems, including federal restrictions on research.

"Our greatest threats include a total ban on human cloning and severe restrictions on stem cell research," said David L. Gollaher, president and CEO of the California Healthcare Institute, the association for the industry.

Ronald D. White

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