Industry-sponsored clinical trials a boon to US state economies

These numbers are according to a new report from TEConomy Partners, supported by PhRMA, which estimates industry-sponsored clinical trial activity in the US in 2017.

The calculation of the overall economic impact includes the “ripple effect”​ of expenditures by clinical trial vendors and contractors as well as spending by industry and vendor employees, per the report.

“Most importantly, some 920,172 patients participated in more than 4,500 industry-led clinical trials across the United States during that same period,”​ Tiffany Haverly, director of public affairs, PhRMA, told us.

Haverly noted that some states “not typically associated with a large biopharmaceutical industry presence”​ supported many trials. For example, 1,016 in Tennessee.

According to the report, only six states had fewer than 100 clinical trials active in 2017.

The top five states with the most active trials were California, Florida, Texas, New York, and North Carolina.

“The biopharmaceutical industry brings profound value to patients through new treatments and cures for society’s most devastating and costly diseases and conditions, providing millions of patients with treatment options they would not otherwise have,”​ said Haverly.

“This report further underscores the positive impact industry-led clinical trials have on patients and local economies.”​