Upload
frank-jaskulke
View
70
Download
1
Tags:
Embed Size (px)
Citation preview
Community Update12.12.14
© LifeScience Alley 2014 2
LifeScience Alley is…
Improving the operating environment for life science companies
The largest state-based trade association serving the life sciences in the U.S.
Nearly 700 members, in industries employing more than 300,000 people
© LifeScience Alley 2014 3
Leading the conversation with…
Public PolicyInformation & Intelligence
Member Service
© LifeScience Alley 2014 4
More than 10,000 referrals and introductions per year Training & networking to
foster community growth and professional
development
Facilitating industry-level problem solving in a neutral environment
Member Service
© LifeScience Alley 2014 5
Thought leadership gatherings
Organizing research around community/industry needs
Delivering actionable information & intelligence to business leaders
Information & Intelligence
© LifeScience Alley 2014 6
Removing barriers to your industry
Coordinating with industry partners
A solutions-based agenda for shaping policy to benefit the life sciences
Public Policy
© LifeScience Alley 2014 7
Discount Purchase Program
© LifeScience Alley 2014 8
INDUSTRY NUMBERS & TRENDS
OUR COMMUNITY
© LifeScience Alley 2014 9
Minnesota Community by the #’s
• Overall 48,000 jobs, 1,600 companies
• #1 per capita and #2 overall medical device cluster in U.S.
• Large and Growing diagnostics cluster in U.S.
• Rapidly growing bio/pharma cluster 54% last 10 years
© LifeScience Alley 2014 10
Employment Trends: Flat/Slightly Up
• Industry bottom Q3 2009
• Q3 2011 back to pre-recession high
• Stability in largest device firms, growth in medium and startup
© LifeScience Alley 2014 11
Minnesota and National Medtech Job Change
0
0.1
0.2
0.3
0.4
0.5
0.6
0.7
0.8
0.9
1
0
0.2
0.4
0.6
0.8
1
1.2
0 0 0 0 0
1
0 0 0 0
Series1 Series2
© LifeScience Alley 2014 12
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 20130
10
20
30
40
50
60
1718
1112
18
1415
52
44
2827
35
48
35
New Companies
New Life Science Company Formation by Year source: MN DEED/QECW
© LifeScience Alley 2014 13
MN Medical Device Average Annual Wage
20092010
20112012
20132014
$80,130.36 $86,195.19 $86,773.32 $87,928.86$97,505.94
© LifeScience Alley 2014 14
Device Employment Growth ‘02-’12• Minnesota: 18.8%
• Massachusetts: 1.8%
• California: 1.2%
• Texas: -10.4%
© LifeScience Alley 2014 15
• Minnesota: 58%
• California: 11%
• Texas: 11%
• Massachusetts: 8%
Biopharma Employment Growth ‘02-’12
© LifeScience Alley 2014 16
Investment Trends: Improving
2009 2010 2011 2012 2013 2014 YTD0
50
100
150
200
250
300
350
400
450
320
221
264
215
332
393
© LifeScience Alley 2014 17
OPPORTUNITIES FOR GROWTH
THE MINNESOTA MARKETS
© LifeScience Alley 2014 18
Historical growth in Minnesota has been driven by these sectors:
• Cardiac Rhythm Management• Vascular (cardio, endo, peripheral)• Orthopedic
Core/Mature Markets
© LifeScience Alley 2014 19
Future growth will be driven by emerging markets:
• Neuromodulation• Drug delivery• Cell therapy • Diagnostics• Health IT
Emerging Markets
© LifeScience Alley 2014 20
• Reduces risk of disruption to established cluster
• Evolving health care marketplace will demand new types of innovation
Minnesota has a multi-decade history and world leading companies already.
Why does diversification matter?
© LifeScience Alley 2014 21
Pharmaceutical industry is growing rapidly; nearly 5,000 employees:
• Major firms Upsher-Smith, Perrigo, ANI Pharmaceuticals, Bio-Techne/R&D Systems
• Device-based drug delivery is growing
• CNS Strength aligns drug and device sector (neuromod) in MN.
Growth of Bio/Pharma
© LifeScience Alley 2014 22
Minnesota has leadership potential in regenerative medicine:
• Major firms National Marrow Donor Program, Biovest, ATMI, Baxter, Mayo Clinic & University of Minnesota
• Bridges medical device and biotechnology
Regenerative Medicine/Cell Therapy
© LifeScience Alley 2014 23
Value of diagnostics is rapidly increasing:
• Major firms Beckman Coulter and DiaSorin
• Draws on engineering, chemistry, and biology skill set in the state
Diagnostics
© LifeScience Alley 2014 24
“The Valley knows tech but not healthcare.
Boston Knows healthcare but not tech.
Only Minnesota has both.”
– Local Health IT CEO
Health IT/Services
© LifeScience Alley 2014 25
Already large cluster, needs to establish identify
• Major firms Optum, Wolters Kluwer, McKesson, Ability Networks
• Low capital intensity = ease of startup
• Attracting interest from coastal VC’s
Health IT/Services
© LifeScience Alley 2014 26
Major payor and provider organizations + consumer expertise
• Minnesota is unique: Mayo, UHG, Target
• Large tech industry – Oracle, IBM, Microsoft and startups
Health IT/Services
© LifeScience Alley 2014 27
Major challenges:
• Moving out of medtech shadow
• Translating good ideas into purchased products
Health IT/Services
© LifeScience Alley 2014 28
EMERGING TRENDSTrends
© LifeScience Alley 2014 29
OUR WORK TO SUPPORT YOUR SUCCESS
OPERATING ENVIRONMENT
© LifeScience Alley 2014 30
Slow device approval process harms Minnesota more than anywhere:
• Highest per capita # medtech employees• Highest per capita PMA filings
In response LifeScience Alley led the effort to create the Medical Device Innovation Consortium (MDIC).
www.MDIC.org
FDA Reform
© LifeScience Alley 2014 31
Minnesota is responsible for ~25% of the tax:
• MN delegation united in repeal (only state)• Opportunity in broader tax reform
discussion• Need your continued involvement
LifeScience Alley is leading efforts toward repeal.
Medical Device Tax
© LifeScience Alley 2014 32
Our community has challenges and opportunities, like any other.
LifeScience Alley is committed to leading the conversation in
improving your environment so that your work can be more
successful.
How We Can Help
© LifeScience Alley 2014 33
“There are few places in the world like Minnesota, where
entrepreneurs, doctors, business leaders, government officials, professors, and others have done so much together to advance mankind’s ability to take care of itself. This comes from a rare willingness on the part of our scientists and hospital directors to work with industrial leaders and entrepreneurs to innovate and launch new medical products and systems that result in healthcare cost reduction for the world.”
- Lee Berlin, Founding Chairman, LifeScience Alley in 1984
30 Years Later