Exporting to Expand Our Reach

Exporting to Expand Our Reach

06.21.11 | By Kate Connors

Tomorrow, PhRMA and the U.S. Department of Commerce will convene a roundtable discussion on export opportunities for biopharmaceutical research companies, with a particular emphasis on emerging companies as they seek to build an infrastructure that allows for increased exports.

The biopharmaceutical sector is already a major contributor to America's economy, supporting millions of jobs and contributing to GDP and taxes at significantly higher rates than workers in other parts of the economy.
But, as America looks to re-secure our place as a global economic leader, we must look at ways in which we can grow in the world's market, and exports from the biopharmaceutical sector offer a strong opportunity for additional growth.
Between 2005 and 2010, biopharmaceutical exports rose by more than 60 percent, to $47 billion - and is among the top five goods exporting industries in the U.S.
At the PhRMA/Commerce roundtable, attendees (including Deputy Assistant Secretary for Manufacturing Peter Perez, trade specialists from the Department of Commerce, Endo Pharmaceuticals CEO David Holveck, and representatives from other emerging biopharmaceutical companies) will discuss how to better leverage this platform for growth, the challenges that biopharmaceutical research companies confront (especially emerging companies), and how the U.S. government can help.
Check back to The Catalyst later in the week, when we hope to have some insight from Endo Senior Vice President Bob Cobuzzi following the roundtable.

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