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To revitalize their economies during this recession it appears that virtually all cities are looking to the medical/health industry as the answer to all their problems. We've heard about the Texas medical center to New Orleans wanting to participate with new hospitals. But isn't it more than just hospitals?
Truth is... it's about the commercialization of research and growing companies that hopefully don't get bought out but unfortunately is happening at an alarming rate in the biotech industry.
Not everyone is going to be on top.
So I ask two questions
1) is there saturation in medical/health industry? (counting on baby boomers getting old but is there enough for everyone?)
2) Which clusters have the brightest future, moving at fast pace that will overtake current leaders or be on their level?
Here are some highlights of some of the top clusters (Note: all companies have a market cap over $2 Billion)
NOTE: This record set for NIH funding does not include Projects funded by the Recovery Act.
Maryland: Montgomery County/ I-270/Baltimore City and Greater Baltimore
Home to over 400 core bioscience companies
NIH funding: MARYLAND $1,008,504,033 AWARDS 2072 2009
Assets Schools: Johns Hopkins University, University of Maryland Medical System/University System of Maryland Organizations:
Howard Hughes Medical Institute,
Department of Health and Human Services,
NIH (National Institute of Health)
FDA(Food and Drug Administration)
Some Companies
United Therapeutics
Human Genome Sciences
MedImmune (subsidiary of Astra Zeneca)
Massachusetts: Cambridge/Boston and Greater Boston/I-84 etc
Home to more than 480 biotechnology companies
NIH funding: MASSACHUSETTS $2,330,951,187 AWARDS 4888 2009
Assets Schools: Harvard University, MIT, University of Massachusetts Medical School System Organizations: Broad Institute Some Companies
Genzyme,
Biogen Idec ,
Boston Scientific Corp.
North Carolina: Research Triangle Park/ Raleigh-Durham
Home to 528 bioscience companies (may include other industries not reported by other states)
NIH funding: NORTH CAROLINA $948,433,361 AWARDS 2067 2009
Assets Schools: University of North Carolina System, Duke Organizations: Research Triangle Park Some Companies
Salix Pharmaceuticals
Talecris Biotherapeutics
Northern California: San Fransisco Bay Area
Home to over 1,377 bioscience companies
NIH funding: CALIFORNIA $3,213,563,036 AWARDS 7082 2009
Assets Schools: University of California at Berkeley, Stanford University Some Companies
Amgen Inc.
Genentech, Inc. (subsidiary of Roche)
New Jersey/Pennsylvania: Philadelphia-State of New Jersey
I'm not sure what to think about this one, if they should be combined or not. There are some enormous pharmaceuticals/biotechs in this area but virtually all are New Jersey but a lot of the research is done in Pennsylvania
New Jersey is home to over 250 Biotechnology companies Pennsylvania is home to 1,895 establishments (includes industries not reported by other states)
NIH funding: NEW JERSEY $258,258,120 AWARDS 604 2009
It probably won't be that drastically different from the top 5 today.
By state, of course California comes far and away as #1. Not only is the Bay Area a HUGE Biotech cluster (one of the two largest, with Boston. It's hard to quantify which one is bigger, so I'll leave it at that), but so is San Diego and the LA Area. Massachusetts would be #2 because the Boston area is just that big!
Now, after that, it gets fuzzy since many of these centers are spread out into different states.
I'm just wondering where you got the source for your numbers?
Here's a report from 2002 about the Biotech industry in the United States. I know its a BIT dated (pre-recession America will look a LOT different than post-recession America), but interesting nonetheless.
It probably won't be that drastically different from the top 5 today.
By state, of course California comes far and away as #1. Not only is the Bay Area a HUGE Biotech cluster (one of the two largest, with Boston. It's hard to quantify which one is bigger, so I'll leave it at that), but so is San Diego and the LA Area. Massachusetts would be #2 because the Boston area is just that big!
Now, after that, it gets fuzzy since many of these centers are spread out into different states.
I'm just wondering where you got the source for your numbers?
Here's a report from 2002 about the Biotech industry in the United States. I know its a BIT dated (pre-recession America will look a LOT different than post-recession America), but interesting nonetheless.
There's no way those VC values are correct, it should be millions not billions. Also keep in mind one or two companies can change the list drastically.
You missed many of the Phjarma companies either headquartered or their main US operations headquartered in the Philly/NJ/NY belt
AstraZeneca
GSK (split between Philly and RTP)
Endo
Cephalon
Pfizer (NYC and Philly)
Merck
JNJ
Shire
Sanofi Aventis
Novartis
Forrest
BMS
Celgene
Novo Nordisk
Eisai
Teva (largest producer of pharmaceutical products in the world)
Plus probably 100 smaller pharma cos and more than 250 service companies affiliated in servicing the Pharma/Bio/Healthcare industries
If you say pure healthcare including Pharma and Bio - then this area is by far the most influential. Many of the companies doing the research in Boston for example are owned and operated out of this region.
Also from a device standpoint the region is also the capital, NJ and even Reading PA are pioneering in this area (Device is a technical term and can include things like brain stimulation etc. as cutting edge as just about anything)
The main belts for this include
the Philly/NJ/NY region largest by a wide margin
Boston (Bio tech and research Genzyme, Millenium, Biogen/Idec, Oscient, Amag, Acceleron, Novartis Biologics group etc.)
Chicago (Especially the strip north of the city Abbott, Baxter, Takeda, Tap etc.)
Bay Area (Genetech (really Roche still with NJ operations) Gilead and some other small ones)
San Diego (La Jolla Area many biotechs)
Thousand Oaks (Amgen)
Seattle/Vancouver (many smaller and developing bios)
RTP
Indianapolis (Lilly)
DC Rockville (Otsuka and some other development cos)
Orange County (Allergan botox baby)
Texas (Ft Worth with some derm cos)
There are others but these would be key
The other part is the NIH Dollars do not tell the whole story some types of research require more money for the same outcome so Boston for example benefits from great genetic and bio funding which takes more dollars) The NIH also funds a behaviorial study in Alabama which is producing great results in depression on a very small budget just as one example...
Just like any other industry follow the dollars back to the parent corp
And remember in the PA Philly area (not NJ which has even more) there more than 250K employed in medical research plus more than 50K employed in Pharmaceutical headquaters, you list Merck as Jersey, the north Wales PA campus employs 5 times those at the Jersey location, JNJ has major operations for their biologics group in Horsham PA just to name a few)
Even maybe the most exciting product from an innovation standpoint with Dendreons Provenge (will revolutionize cancer treatment) was developed in Seattle but is being run and marketed out of the jersey office, why, becuase this is where the concentration of people and expertise to run Pharma business is. look at Genetech and Amgen (They have been bringing the talent pool from this area to run these companies to CA, 75+ percent of their senior leadership is from jersey or Philly)
It is large, but houston as a whole isnt close to doing the most research even if they the single largest facility of its kind
look at a system like the PENN network in Philly, I believe combined more than 60% the size of the TMC but spread out over the city, that doesnt include, Fox Chase, Hannaman, Jefferson, Crozier Chester, Wills Eye, Cooper, Temple, AI Dupont Childrens all in the city as well. Boston, NYC, LA etc would all have more than houston as well just not as central to single facility
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