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Texas Sees Life Sciences Industry Boom

Manufacturing site construction and jobs are up as biopharma activity rises in North Texas, according to Axios.

The local angle: “Dallas’ booming life sciences industry—which includes big name institutions and companies like UT Southwestern, Alcon and AstraZeneca—has spurred economic growth, created thousands of high-paying jobs and driven expansion of lab space.”

  • “With the pandemic catapulting life sciences into higher prominence and with more people than ever before working in jobs or graduating with degrees in the field, competition is fierce for talent in the industry.”

The big picture: The burgeoning life sciences and pharmaceutical industry in Texas shows why the U.S. government shouldn’t get in the way of innovation by imposing misguided price controls, says NAM Vice President of Infrastructure, Innovation and Human Resources Policy Robyn Boerstling.

  • “Especially at a time of incredible medical breakthroughs like the COVID-19 vaccines, we need to keep creating new treatments and cures that have the potential to save and improve millions of lives—and that means ensuring an environment that supports investments in research and development,” she said.

The numbers: Right now, the U.S. leads the world in the development of new treatments and cures, Boerstling pointed out. According to a 2021 NAM study, the pharma industry has resulted in $1 trillion in R&D investments over the past 20 years and 267,000 jobs. 

The policy angle: Any path to cheaper health care and lower drug prices must address inefficiency, affordability, improved outcomes and flexibility—but without abandoning market-based approaches, said Boerstling.

  • “Price controls and other government-led interventions do not support a climate of innovation. Biopharmaceutical manufacturing growth needs to be fostered, not challenged by elected leaders,” she added.
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