Pharma Group: We Spend $1.1B A Year In Michigan
LANSING (WWJ) – A pharmaceutical industry lobbying group said Tuesday that the drug industry spends $1.1 billion a year with biomedical vendors and suppliers across Michigan.
The figure was developed in a study by Battelle, the Columbus, Ohio-based research firm.
The numbers were released at the state Capitol.
The group, calling itself We Work For Health, says the report shows that vendors across the state provide services and supplies such as clinical trials, computing and informatics technologies, instruments and analytical equipment, finance and insurance services, and manufacturing technologies and equipment.
The report was based on 2011 data provided by 17 biopharmaceutical companies and tallies 4,928 “vendor relationships” in Michigan totaling $1,087,533,451.
The data reflect that multiple biopharmaceutical companies may share vendors and have multiple contracts with them. Because not all companies volunteered data, the full economic impact of the vendor industry is likely greater than the numbers suggest, researchers said.
Across the 17 states surveyed, 120,804 vendor relationships totaling nearly $53 billion were reported. Vendor economic impact maps are available at the We Work for Health website, http://www.weworkforhealth.org.