Biopharmaceutical Industry Creates Economic Opportunity for Americans

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Biopharmaceutical Industry Creates Economic Opportunity for Americans

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The biopharmaceutical industry in America not only contributes to the better health of people all over the world, it also generates economic value for local communities in states all across our country.

The U.S. biopharmaceutical industry alone is responsible for 4.5 million jobs, with more professionals in science, technology, engineering and mathematics than any other industry in America.[i]  This includes close to 300,000 biopharma manufacturing jobs[ii], with an average salary in the top 2 percent of all manufacturing jobs in the U.S., close to $100,000 annually.[iii]

Pfizer is an American company that is dedicated to making high-quality, life-saving medicines right here in the U.S., with the skill and know-how of American workers. Pfizer employs more than 33,000 people in the U.S. and Puerto Rico alone, including more than 12,000 manufacturing employees with diverse skills and education levels, who take pride in their work and how they are helping to improve the health and lives of people around the world. Watch this video for a behind-the-scenes look at what it takes to create a single dose of a vaccine, and the dedicated manufacturing and distribution professionals behind this scientific innovation.

Pfizer

Furthering our commitment, Pfizer recently announced an investment of $100 million in a new gene therapy manufacturing facility in Sanford that will create new jobs and support the future of biomedical research and manufacturing in North Carolina.

Founded in New York in 1849, Pfizer’s long heritage of manufacturing includes important innovation milestones such as the mass production of life-saving penicillin during World War II. Pfizer remains strongly committed to U.S. manufacturing, having invested $2.1 billion over the last 5 years into 17 state-of-the-art manufacturing facilities in the U.S. to produce quality medicines, vaccines and consumer products that help people in 175 countries across the globe.

For example, our Sanford, North Carolina site just celebrated 30 years of manufacturing vaccines, and we very recently completed construction for a new manufacturing suite where we’ll produce a vaccine that prevents meningococcal disease. Furthering our commitment, Pfizer recently announced an investment of $100 million in a new gene therapy manufacturing facility in Sanford that will create new jobs and support the future of biomedical research and manufacturing in North Carolina. The new gene therapy facility will help advance Pfizer’s work in manufacturing highly specialized, potentially one-time transformative therapies for people suffering from genetic diseases such as hemophilia and Duchenne Muscular Dystrophy.

As the leader of our Sanford site, I can say that North Carolina is an exciting place to be, with an extraordinary array of scientific talent.  Pfizer recently donated $4 million to support postdoctoral fellowships in gene therapy at North Carolina universities in recognition of the importance of harnessing this talent.  Pfizer continues to work closely with states like North Carolina that have policies which create the right environment for innovation and investment. Pfizer Global Supply is working across the country to help educate students of all ages about dynamic careers in science and manufacturing.

Beyond investments in manufacturing and education, U.S. biopharmaceutical companies invest approximately $59 billion annually in research and development (R&D) in the United States.[i] This accounts for the largest single share of all U.S. business R&D investment, more than 6 times the average for all other manufacturing industries.[iv] In 2014, the biopharmaceutical industry generated $1.2 trillion in total output to the U.S. economy.[v]

American biopharmaceutical manufacturing represents great promise for the health of our economy, our society and our families.  Learn more about the impact and value of American biopharmaceutical innovation on job creation and economic growth in the infographic below.

Pfizer

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