Robust private-sector investment and prudent regulation from policymakers have helped establish Maryland as a cradle of innovation and a leader in the U.S. innovation economy. Few states can match Maryland’s highly skilled workforce, market access and technology-centered policy incentives, and the U.S. Chamber of Commerce ranked Maryland No. 1 in the country for entrepreneurship and innovation.
But continued leadership of the region — and the ability of the region to continue to reap the economic and jobs benefits of innovation — is not a given. It requires constant cultivation and smart action from our elected officials.
Maryland is home to more than 800 life sciences companies, 70 federal labs and 16 colleges and universities, including National Institutes of Health, the Food and Drug Administration, Johns Hopkins University, the University System of Maryland and companies like MedImmune and GlaxoSmithKline. About 6 percent of Maryland’s gross domestic product — $17.6 billion — is generated by the life sciences, and the biotechnology industry in Maryland alone employs about 34,000.
During the most recent legislative session in Maryland, the General Assembly considered a piece of onerous drug pricing legislation that threatened the biopharmaceutical ecosystem in the state while also potentially impeding access to care for Maryland patients.
In the name of “transparency,” the legislation — which would have been the most hostile to industry in the country — imposed complex bureaucratic reporting requirements that disregarded the extraordinary development requirements and complex distribution channels for innovative drugs and therapies.
Read more via the Capital Gazette
