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LifeSciences BC Releases New Report - British Columbia's Life Sciences Industry: An Economic Overview
Wednesday, September 25, 2013Company Profile | Follow Company
Vancouver, BC, September 25, 2013--(T-Net)--LifeSciences BC has released a new report outlining British Columbia's strengths in the biotech and life sciences sector.
This report is based on the research of D.E. Park & Associates Ltd., which was contracted by LifeSciences BC to conduct an economic impact overview of British Columbia's life sciences industry, and was oprioduced with support from the Vancouver Economic Commission.
Report Highlights
• Number of life sciences organizations in British Columbia: 310
• Total estimated expenditures: $902 million
• Total estimated employment: 8,500 FTEs (direct) + 5,500 FTEs (indirect) = 14,000 FTEs
• Total estimated wages and salaries paid: $570 million
• Average annual life sciences industry wage: $68,000
• Total estimated life sciences research funding from for-profit, not-for-profit and government organizations: $424 million
• Total estimated impact on provincial GDP: $1.03 billion
Unless otherwise noted, the data covers the year ending December 2012.
A copy of the full report entitled "British Columbia's Life Sciences Industry An Economic Overview" is available online now on the LifeSciences BC website.
LifeSciences BC also announced the appointment of Paul V. Drohan as its new President & CEO earlier this month.
"I'm excited to be joining LifeSciences BC, a leader in the life sciences industry in B.C. and across Canada," says Paul. "We have an extraordinary biotech and life sciences history here in the Province, and I look forward to building on this history in this dynamic period. We're seeing radical changes in business models, access to capital and technologies like wireless and ICT converging in this space. Within this environment, I want to ensure that the life sciences sector in B.C. is sustainable and attractive provincially, nationally and internationally. By realizing our potential as a global leader in life sciences, LifeSciences BC will help strengthen our stakeholders and the Province."
Paul has over 25 years of experience in the biopharmaceutical industry, and has recently returned from the United Kingdom where he lived and worked for the past eight years. Most recently, Paul was with Genzyme (a Sanofi Company) as Senior Global Vice President, leading the organizations' strategic, financial and sales and marketing operations performance for the U.K., Republic of Ireland, South Africa, Australia, New Zealand and Canada.
For more biographical information, please visit Paul's LinkedIn page.
"We're delighted that someone of Paul's stature and expertise has come home to help LifeSciences BC realize its global potential," says Gordon McCauley, Chair, LifeSciences BC. "At the same time, we owe a deep debt of gratitude to Don Enns who has served in this role for the last three years. Don's contributions have been extraordinary, and we're delighted that he is staying within our life sciences business community in a leadership role with one of our members."
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