Industry Highlights:

• Companies: California is home to more than 2,700 companies and more than 100 universities and private non-profit research organizations that are engaged in biomedical R&D and manufacturing.
• Employment and job distribution: The state’s biomedical industry accounts for 267,000 California jobs. Employment in the industry is diverse: 43% of employees work in businesses making medical devices, instruments and diagnostic tools; 30% in biopharmaceutical companies; 15% in academic research; 11% in wholesale trade; and 2% in laboratory services. Among the state’s high-tech industries, only computer programming employs more workers than the biomedical industry.
• Wages: Californians employed within the industry earned an average salary of $71,300. Within the sector, biopharmaceutical companies paid the highest average annual wage – $86,100.
• R&D investment: Public biomedical companies that are doing business in California invested an estimated $27 billion in the research and development of new products for unmet medical needs in 2006. The typical California biomedical company committed 44% of its cash to R&D expenditures.

Publications

The Journal of Life Sciences

The Journal of Life Sciences offers fresh analysis and commentary on the impact of biosciences on business, policy, and culture. Read more