Pharmacology companies: the numbers keep growing

Andrey Kamenov

Andrey Kamenov, Ph.D. Probability and Statistics

More pharmacology companies than ever are actively filing for patents. In fact, in Massachusetts, the number has doubled in the last five years. We detailed this trend in our recent post about the most innovative companies in the state.

Let’s see whether this trend is characteristic of the state or if the growth more universal. To begin, here’s the map showing the details about the current state of innovation in the industry.

New pharmacology patents in 2015

As you can see, the total number of issued patents has increased in most of the states in the U.S. Additionally, the number of actively-innovating pharmacology companies has grown across the country. A few exceptions are present, but they all have relatively small absolute numbers. North Carolina is the only semi-relevant example.

Also take note that growth can be observed even in states not usually associated with the industry. Take Texas, for example. In 2015, 215 new patents on drugs and bio-affecting compounds were issued in the state. Ten companies obtained at least five new patents each.

But let's take a closer look at the states where the leading companies in the industry are located. As you can see, all three of the top states experienced similar growth, with the number of active companies nearly doubling.

Active pharmacology companies (5+ patents) by year

The trends in Massachusetts and California look very similar, with the latter forming a significant gap in 2010. The gap has remained quite stable since then. New York started to catch up only recently, in 2014.

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About Andrey Kamenov

Andrey Kamenov

Andrey Kamenov, Ph.D. Probability and Statistics

Andrey Kamenov is a data scientist working for Advameg Inc. His background includes teaching statistics, stochastic processes and financial mathematics in Moscow State University and working for a hedge fund. His academic interests range from statistical data analysis to optimal stopping theory. Andrey also enjoys his hobbies of photography, reading and powerlifting.

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