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Massachusetts is a world leader in life sciences, but local biotech industry officials say that in addition to facing a bad economy and a tough funding environment, it also must contend with the rise of rival biotech hubs in places such as Ireland, India and North Carolina, and must meet the challenges or risk its long-term dominance.
That was the theme of speakers at the Massachusetts Biotechnology Council’s 2009 Annual Meeting, held at the Seaport World Trade Center on Tuesday. While the state’s hospitals, universities and colleges and biotech startups continue to perform groundbreaking research, Massachusetts faces problems around collaboration, networking and fundraising, said speakers who were unveiling the MBC’s 2015 Strategic Plan for the industry.
Biotechnology companies are reporting the industry is “very fragile,” said Andrew Vaz, national leader, life sciences, at Deloitte Consulting LLP, the firm that prepared the plan. Companies are facing a serious depletion of funds over the next year, he said. More could be done to make this a more attractive state to do business, as well.
Rivals such as Ireland in particular are working to become biotech manufacturing centers, noted speaker Barri Falk, Deloitte specialist leader in life sciences and health care. She said Massachusetts and San Francisco are not necessarily the most “cost effective” places for companies to do their biotech manufacturing.
On the other hand, where the state is a leader is in innovation, and that’s where the MBC wants to put its primary efforts -- without sacrificing other segments, such as manufacturing, said Robert Coughlin, president and CEO of the MBC. “We’re not saying we don’t want manufacturing.” He cited the new drug plant being constructed by Bristol-Myers Squibb Co. at Fort Devens as one ongoing biomanufacturing project in the state. “It’s a perfect example,” he said. “It was permitted quickly and not subject to town meeting.”
However, he emphasized the MBC’s intended focus on research and development and innovation. “That’s what got us here.” This also includes retaining the most talented scientists and encouraging students to take up the sciences as a career. “We are slipping, continuing to lose people,” said Coughlin.
The Deloitte report urged the MBC community to look into new incentives to attract and retain new talent, increase professional development resources and increase networking between academia and businesses as ways to bolster the industry.
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