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Executive Summary of the Economic Impact Study: Profiling the Growth of Oregon’s Bioscience Industry, 2014

Bioscience in Oregon is now not only at $10.3 billion statewide impact, the combined biotechnology and life science sectors are continuing in their steady and significant growth in employment, wages and overall economic activity that ripple through every sector of Oregon.

The new economic impact study shows bioscience in Oregon generates high-paying jobs, while bringing new money to the state through domestic and international exports. In 2014, the direct economic activity associated with Oregon’s bioscience industry includes:
  • 17,874 jobs and $1.3 billion in total wages,
  • An average annual wage of $74,188, which is 62 percent greater than the statewide average wage for private sector employment,
  • $3.8 billion in exports, and
  • $171.5 million in state and local taxes paid by bioscience firms and their employees
Read the summary here to get more details on how these impacts multiply.


EconImpactStudy2016

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News Flash

  • BIO Releases Largest Ever Study on Clinical Development Success Rates

    WASHINGTON--(BUSINESS WIRE)--Today, the Biotechnology Innovation Organization (BIO) released the largest ever study of clinical development success rates. The study, conducted in partnership with Amplion and Biomedtracker, recorded and analyzed 9,985 clinical and regulatory phase transitions, across 1,103 companies. Using clinical trial data from the past decade, “Clinical Development Success Rates 2006-2015” compares groups of diseases, drug modalities and other attributes to generate the most comprehensive analysis, to date, of biopharmaceutical R&D success.

    “This study provides a wealth of information about drug development success rates across a broad range of indications,” said Cartier Esham, PhD, BIO’s Executive Vice President, Emerging Companies. “The results may be used to pinpoint disease areas and phases of development where the industry has been most successful in recent years, as well as areas presenting challenges along the capital intensive-pathway of drug development.”

    Key findings from the study include:
    • Clinical trial programs that used selection biomarkers saw an overall likelihood of approval (LOA) from Phase I of 25.9%, compared to 8.4% when no selection biomarkers were used.
    • The overall LOA from Phase I for all developmental candidates was 9.6%, and 11.9% for all indications outside of Oncology.
    • Of the 14 major disease areas studied, Hematology had the highest LOA from Phase I (26.1%) and Oncology had the lowest (5.1%).
    • Oncology drugs were approved the fastest of all 14 disease areas.
    • Rare disease programs had higher success rates at each phase of development vs. the overall dataset.
    • Chronic diseases with high populations had lower LOA from Phase I vs. the overall dataset.
    The study relied upon years of clinical program monitoring and data entry by Informa’s Biomedtracker service. BIO has long partnered with Biomedtracker to calculate success rates based on this data. More recently, BIO and Biomedtracker partnered with Amplion, the inventors of BiomarkerBase, to analyze the effects of biomarkers in clinical trial success.

    “Combining Amplion’s biomarker database with Biomedtracker’s clinical transition records we were able to, for the first time, quantify the benefit of using selection biomarkers in drug development,” said study author David Thomas, CFA, BIO’s Senior Director of Industry Research. “In combination with the rare disease section of the report, these results appear to be revealing the overall strength in targeting well-defined, homogenous patient populations.”

    A full version of the report is available for download here.

    Thomas will be discussing the report on June 6 at the 2016 BIO International Convention during his session, "The State of the Innovation Industry.
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    May 25, 2016

Bioscience News

  • On Wednesday, BIO released the largest ever study of clinical development success rates. The study, conducted in partnership with Amplion and Biomedtracker, recorded and analyzed 9,985 clinical and regulatory phase transitions, across 1,103 companies. Using clinical trial data from the past decade, “Clinical Development Success Rates 2006-2015” compares groups of diseases, drug modalities and other attributes to generate the most comprehensive analysis, to date, of biopharmaceutical R&D success. “This study provides a wealth of information about drug development success rates Read More >

  • This morning, in a letter to the editor of the New York Times, Marilyn Tavenner, President and CEO of America’s Health Insurance Plans (AHIP), attempted to lay the blame for higher healthcare costs and insurance premiums at the feet of America’s cutting-edge biopharma companies. AHIP has been peddling these falsehoods and misinformation for years.  Tavenner’s (and her organization’s) claims are—at best—uninformed. At worst, they are outright distortions deployed to hide the facts from patients who Read More >

  • “40% of food grown in U.S. is wasted.” – House Ag Commitee Chairman Conaway On Wednesday, May 25, 2016, the House Committee on Agriculture held a hearing to examine what voluntary efforts can be done to address the issue of food waste. The hearing was titled Food Waste from Field to Table and witnesses included Rep. Chellie Pingree (D-Maine), along with several other experts on the issue. Ms. Dana Gunders, Senior Scientist, Food & Agriculture Program, National Resources Defense Read More >

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