The Pharmaceutical industry contribution to Puerto Rico has been quantified mostly on economic terms such as Jobs, Taxes, Annual CapEx and GDP participation. However, at the core of those contributions is an intrinsic and fundamental enabler: INNOVATION.
Biopharmaceuticals are considered one of the most innovative industries in the world not only because of their evolution into Biotechnology but also because of the ability to develop medicines that have enable human society to live a longer, healthier and higher quality of life.
Biopharmaceutical innovation has prevented almost 900,000 HIV/AIDS deaths, since 1990 cancer death rates have decline 23%, over the last decade alone death from heart diseases have declined about 38%, and Hepatitis C has now a 94-100% cured. Since 2000 more than 500 new medicines have been approved. I 2015 alone, this industry invested over $58 billion dollar in Research and Development. Right now, over 7,000 medicines and treatments are in the development phase and approximately 3,500 compounds are being studied in the US alone.
That positive impact on society and the lives of people should always reside at the core of who we are and why we do what we do, and we should always be aware that INNOVATION is at the core of who we are.