Over 8,200 Clinical Trials of Medicines Conducted by Texas Research Institutions Since 1999

Phrma: March 25, 2013

The report findings show the state’s clinical tests of new medicines have been beneficial to patients, the advancement of science and the economy.

“Improving health is a shared goal of biopharmaceutical companies and state medical schools, hospitals and clinical research facilities. Through clinical trials, they are not only helping advance science and improve patient care, but also strengthening Texas’ economy,” said Jeffrey Bond, Senior Vice President, PhRMA. “When you consider that clinical trials account for 45 to 75 percent of the average $1.2 billion needed to develop a new medicine, there is greater appreciation for not only the health benefits generated from clinical trials, but also the economic benefits to the state.”

Biopharmaceutical research companies are an important source of jobs, tax revenue and research spending in Texas. The Texas Emerging Technology Fund (TETF) has invested over $130 million in pharmaceutical-related startups since 2005. That public investment in research and development is supported by the state’s vast network of public universities and health-related institutions. In 2010, Texas public institutions of higher education invested more than $2.5 billion on medical and life sciences research, accounting for 61 percent of all higher education R&D expenditures in the state. Read more