This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration. Need a new registration confirmation email? Click here
March 25, 2013 /PRNewswire/ -- Working in collaboration with university medical schools and science centers, local hospitals and clinical research facilities, America's biopharmaceutical companies have conducted more than 8,200 clinical trials of new medicines in
Texas over the last 13 years, according to a new report by the Pharmaceutical Research and Manufacturers of America (PhRMA). The report – "Research in Your Backyard: Pharmaceutical Clinical Trials in
Texas" – was released today at a news conference with Sen.
Bob Deuell, (R -
Jim Murphy, (R -
Tom Kowalski, President, Texas Healthcare and Bioscience Institute and Dr.
Curtis Triplitt, Asst. Professor, Diabetes/Medicine, the
University of Texas Health Science Center at San Antonio Texas Diabetes Institute, in the Lt. Governor's Press Conference Room at the State Capitol.
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.
"We support R&D not only for the jobs it offers and the investment it brings, but also for the significant advancements in health care, pharmaceutical therapies and technology innovations that stand to benefit so many Texans and people around the world," said state Sen.
Bob Deuell (R-
Greenville). "That's why
Texas needs to offer all businesses performing R&D some sort of smart-minded tax credit or incentive."
Texas lawmakers are currently considering proposed legislation that would allow all businesses performing R&D the option between a sales tax exemption on R&D equipment and a franchise or margins tax credit on R&D expenditures, including salaries. Many believe the legislation would give
Texas a competitive edge.
"We must foster an environment in
Texas that encourages this critical first phase of research and product development," said Rep.
Jim Murphy (R-
Houston). "Quality studies that aim to quantify just how critical the R&D sector is to our larger economy and society – studies like this latest clinical trials research assessment – make it clear that we can and must do more to ensure that R&D dollars, jobs and tax revenue flow into, and not out of our state."
More than half of the clinical trials in the Lone Star State have targeted the most devastating chronic diseases, with more than 4,300 aimed at asthma, heart disease, stroke, cancer, diabetes and mental illnesses.