We Work For Health is a grassroots initiative that unites health consumers, biopharmaceutical company employees and retirees, vendors, suppliers and other business, academic and community partners to demonstrate how these diverse groups work together to improve America’s health care system and strengthen our economy.

Industry Impact

America’s biopharmaceutical sector helps to research, manufacture, distribute and promote innovative therapies that make a critical difference in the lives of millions of people. In the last ten years, scientists have discovered and developed more than 300 completely new medicines, vaccines and biologics approved by the Federal Drug Administration (FDA).

The value of this sector, however, extends beyond life-enhancing advancements in medicine and includes great contributions to Colorado’s economy. Biopharmaceutical companies are also vital economic partners, generating tax revenue, creating high-paying jobs and providing growth opportunities for related industries and domestic labor. In fact:

• Biopharmaceutical companies supported a total of 54,793 jobs in Colorado in 2008 - 12,869 directly in the sector and 41,925 in other sectors.
• Direct biopharmaceutical wages in Colorado were estimated to be $942.1 million in 2008, resulting in an estimated $238.9 million in federal taxes and $32.7 million in state taxes.
• In 2010, U.S. scientists and researchers were conducting 15,134 studies to develop medicines targeting cancers, rare diseases, and other important conditions. 1,718 of these trials were active in Colorado.
• In Colorado, biopharmaceutical companies invested $379.9 million in research and development of new medicines in 2008.

In addition, many biopharmaceutical companies provide philanthropic assistance in their local communities through support of access to affordable products, education, social services, arts and other community needs.

To learn more, download the fact sheet (PDF): The Biopharmaceutical Sector’s Impact on the Economy of Colorado.