Posted on 04/26/2005 5:16:27 AM PDT by OESY
The biotech industry may be the greatest economic hope for the New York region — but that hope could be crushed by the liberalism for which the Northeast is known....
Each job in the industry creates another 5.7 jobs elsewhere in the economy, substantially above the average for all industries."
California ranks first....
The results are higher than average wages and higher than average real output per worker, $72,600 and $157,300, respectively, in 2003.
The Northeast is particularly well suited to capitalize upon the promise of biopharmaceuticals....
Worldwide, the United States dominates the industry — not because its citizens are smarter, better educated or nicer, but because America is freer. Yet that could change if government regulates industry prices and profits....
Earlier this month, Rep. Rahm Emanuel (D-Ill.) advocated "reimportation" of price-controlled drugs from overseas, complaining that "the pharmaceutical industry is giving you the best government they can buy." And Sen. Dick Durbin (D-Ill.) advocates price-fixing through Medicare because the companies are making profits "at the expense of seniors who cannot afford to pay."...
Such attacks are politically attractive, but medically foolish. America risks following the example of Europe, which faces a full-scale biotech brain drain due to its increasingly stultifying economic environment.
If public officials are unconcerned about other people's jobs, they should be interested in the tax revenues....
...[T]he innovative possibilities of such a combination are immense....
There's the prospect of more and better drugs in the future. Pharmaceutical companies spend about a fifth of their sales revenue on R&D — and outlays have more than doubled over the last decade.
But discovering new cures is not cheap....
The biopharmaceutical industry provides the U.S. and the Northeast with enormous benefits: employment, economic and medical. Yet politicians now seek to win votes by demagoguing the industry....
(Excerpt) Read more at nypost.com ...
Only three of every 10 medicines that get to market — the latter only about one out of every 5,000 to 10,000 compounds originally examined — actually earn enough revenues to cover their R&D cost.
The "greedy pharmaceutical companies" crowd has their collective head stuck in an unnatural place.
Democrats rely on their constituents ignorance. They think Canadians get cheaper drugs, but don't tell them they pay for them through higher taxes. Canadians actually pay for drugs whether they use them or not. And with democrats constantly demonizing the drug companies, i'm surprised thay haven't all moved off shore. Big business should look at the red state maps and find the reddist area to locate their businesses where capitalism is appreciated.
They have. China. ;)
bada bing!!!! very good!
New York has the HIGHEST TAXES in the USA.
2nd or 3rd place.
If the next Gov is a DEM, then the STATE will be Vacant of all business !!
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