Life sciences innovation has a tremendous impact on the world’s health and well-being. The medicines, medical devices, diagnostics, research tools, and biorenewables developed by life sciences companies across California preserve and improve quality of life for people around the world.
In this report we take a look at how the industry is benefiting the state and life sciences industry as a whole:
- As of fall 2017, California companies had 1,274 medicines in the pipeline to treat cancer, infectious diseases, immune issues, central nervous system disorders and many other conditions. In addition, California companies received approval for 440 medical devices in 2016.
- 3,249 life sciences companies (up 209 from year prior), employing 298,000 people, generating $169 billion in revenue.
- Life sciences companies paid more than $17.3 billion federal, California state and local taxes.
- California led the nation in digital health VC funding the first two quarters of 2017 with $2.3 billion. Top sectors were diagnostics, devices and therapies, consumer health and wellness and care management.
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