With biotechnology employing some 268,000 people in California, industry executives reportedly remain optimistic about its future in the state despite a recent report indicating that biotech venture investments decreased in 2010. More executives than ever indicate that they will be increasing their manufacturing in California, and about two-thirds plan to increase the size of their workforces in the state. Among the state’s attractions to biotech entrepreneurs are skilled workers and access to top universities. According to the report, biopharmaceuticals apparently saw a 6.7 percent increase in global demand in 2010 with sales reaching $752 billion, and seven of the top 10 global biologic products were produced by California companies. See Xconomy (San Francisco), February 1, 2011.
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Venture investing decreased in California in 2010, but executives bullish about biotech future
- Shook Hardy & Bacon LLP
- Patrick Henderson, Madeleine McDonough and Thomas T. Moga
- February 7 2011
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