Greater Philadelphia Moves Drug Candidates from the Lab to the Marketplace
The Greater Philadelphia region is usually at or near the top of all major U.S. life sciences locations, which is why life science companies located here are at a distinct advantage over those that are not. The 2005 Milken Report data confirm our region's ranking across numerous categories, including location quotient, employment growth, investment growth, drug approvals, patents, educational degrees and more.
Beyond the strengths of our life sciences cluster, our region's local communities possess a unique understanding of the industry's business models, goals and objectives. Local governments and jurisdictions are pro-active about bringing life science companies into the region, making introductions, speeding the permit process, assisting with staffing, site selection and more. All of which help companies hit the ground running and lower their business risks.
Even European-based life sciences will find our area advantageous, with excellent transportation options such as Philadelphia International Airport and minimal time-zone difficulties. Wherever you're going, it's easy to get to and from Greater Philadelphia. For more regional comparisons involving life sciences or lifestyle, call us at 800-221-0774.
| Pharmaceuticals Location Quotient, 2003: |
| Rank |
MSA |
LQ (US = 1) |
| 1 |
Greater Philadelphia |
7.39 |
| 2 |
Greater Raleigh/Durham |
4.51 |
| 3 |
Greater New York |
3.04 |
| 4 |
Chicago |
3.01 |
| 5 |
Greater San Francisco |
1.80 |
| 6 |
Boston |
1.48 |
| 7 |
Dallas |
0.82 |
| 8 |
Greater Los Angeles |
0.81 |
| 9 |
San Diego |
0.26 |
| FDA New Drug Approval: |
| Rank |
MSA |
Total 2002-2004 |
Per Million People 2004
|
Score |
| 1 |
Greater New York |
60 |
3.7 |
100.0 |
| 2 |
Greater Philadelphia |
24 |
3.9 |
88.5 |
| 3 |
Greater Raleigh/Durham |
11 |
8.3 |
87.3 |
| 4 |
Boston |
13 |
2.9 |
76.6 |
| 5 |
Chicago |
14 |
1.5 |
69.3 |
| 6 |
San Diego |
8 |
2.7 |
69.2 |
| 7 |
Dallas |
8 |
1.4 |
61.2 |
| 8 |
Greater Los Angeles |
10 |
0.7 |
55.8 |
| 9 |
Greater San Francisco |
6 |
1.0 |
53.1 |
| 10 |
Minneapolis |
1 |
0.3 |
34.5 |
| 11 |
Seattle |
0 |
0.0 |
0.0 |
| Weighted Percent of Life Science Patents in the Region: |
| Rank |
MSA |
Score 1999-2003 |
| 1 |
San Diego |
100.0 |
| 2 |
Greater Philadelphia |
99.9 |
| 3 |
Boston |
97.3 |
| 4 |
Greater New York |
91.7 |
| 5 |
Seattle |
91.7 |
| 6 |
Greater San Francisco |
90.6 |
| 7 |
Greater Raleigh/Durham |
90.1 |
| 8 |
Greater Los Angeles |
85.1 |
| 9 |
Chicago |
79.8 |
| 10 |
Minneapolis |
78.7 |
| 11 |
Dallas |
67.6 |
|