Philly’s Life Sciences Industry Has a $25 Billion Footprint

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The Life Sciences industry includes 1,200 small and large enterprises which employ nearly 50,000 people across the region.

With its dozen-plus world-renowned research institutions and top biomedical programs, a healthy ecosystem of 1,200 small and large enterprises employing nearly 50,000 people, and $6.3 billion of investment activity, Greater Philadelphia is a breeding ground for life sciences innovation and leadership.

That’s according to the new Greater Philadelphia Life Sciences Report, jointly put together by an array of stakeholders in the industry.

“Our convergence of institutional, corporate, and public partners committed to its growth, combined with our ever-burgeoning talent, are a recipe for impactful success,” Ben Franklin President and CEO RoseAnn B. Rosenthal said.

The Life Sciences Report covers the last five years of industry activity, which led the fields of cell therapy, gene therapy, and gene vaccines, and cumulatively generated $24.6 billion in real output.

“This report provides insights into the immense innovation and breakthrough discoveries that are coming out of the 11 counties, proving our region to be a global leader in life sciences,” PACT President and CEO Dean Miller said.

Read the full Life Sciences Report here.

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Top photo credit: Garen M. Warp to City Hall via photopin (license)

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