INDIANAPOLIS, Feb. 17, 2016 /PRNewswire/ -- Breakthrough research, exceptional scientists and leaders, visionary entrepreneurs, world-class organizations and life-saving products all contributed to a $62 billion1 economic impact for the state according to data provided to BioCrossroads by the Indiana Business Research Center (IBRC) at Indiana University. As the IBRC data make clear, Indiana maintained its status as the second largest exporter of life sciences products in the U.S. with $9.9 billion2 worth of products, nearly one-third of Indiana's total exports.
Indiana's life sciences sector is a national leader with 56,582 people3 working in the industry at nearly 1,700 companies3 throughout the state in the areas of drugs and pharmaceuticals, medical devices and equipment, agricultural chemicals and feedstock, medical, research and testing laboratories and biologistics. New discoveries and products are being developed at those companies and research universities. Indiana companies and universities were granted 1,211 patents1 for life sciences-related innovations, and 83 new products were approved by the U.S. Food and Drug Administration in 2015.
"Innovation and talent are intertwined and embedded in the DNA of Indiana's life sciences industry," said David L. Johnson, president and CEO, BioCrossroads. "The numbers are strong across the board, but adding more innovation and talent and finding a collection point to drive that activity is critical to our continued success. Having both the Indiana Biosciences Research Institute and 16 Tech as part of our community offers our region and state with a unique opportunity to transform our already strong life sciences community."
Indiana is home to the global headquarters for: Anthem, Inc., Cook Medical, DePuy Orthopaedics, Dow AgroSciences, Eli Lilly and Company, and Zimmer Biomet, and the North American headquarters of Roche Diagnostics; Baxter, Beckman Coulter, Boston Scientific, Covance, Express Scripts, Mead Johnson, and Medtronic all have major operations located within the state.
About BioCrossroads
BioCrossroads (www.biocrossroads.com) is Indiana's initiative to grow the life sciences, a public-private collaboration that supports the region's research and corporate strengths while encouraging new business development. BioCrossroads provides money and support to life sciences businesses, launches new life sciences businesses, expands collaboration and partnerships among Indiana's life science institutions, expands science education and markets Indiana's life sciences industry. The initiative supports the region's existing research and corporate strengths while encouraging new business development and has formed several new nonprofit organizations, including Indiana Health Information Exchange, BioCrossroadsLINX, OrthoWorx, Datalys Center and the Indiana Biosciences Research Institute.
BioCrossroads' 2015 annual report which includes this information and other statistics is available at www.biointellex.com and www.biocrossroads.com.
This data, generated by the Indiana Business Research Center at the Indiana University Kelley School of Business and BioCrossroads, the most recent available data (see footnotes for specifics).
1 2014 data from the Indiana Business Research Center (IBRC)
2 For the 12-months ended 9/30/2015 (IBRC)
3 As of 9/30/2015 (IBRC)
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SOURCE BioCrossroads
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