2012 Biotechnology Research Review

Additional Information

REPORT SCOPE

FOREWORD

In 2012, there were about 1.6 million people in the U.S. working in bioscience-based jobs, who took home an average salary in the mid-$80,000s. The biotech industry’s wages are about 80% higher than the average private sector job in the U.S., and while biotech saw a small decline in the last five years, job losses weren’t as bad as in industries like aerospace or software.

Venture capital flow into biotech has steadily risen during the last four or five years, and in the preceding year there were 35 big exits in biotech and medical devices. Taken together, those 35 big deals in the life sciences generated $8.8 billion in up-front returns to investors. That figure inflates to $12.7 billion when counting the future milestone payments, though there is nothing guaranteed except for optimism. This has helped to offset some of the reduction in NIH direct spending, post financial crisis. Overall, the biotech sector remains vibrant and positive.