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Biomedical momentum wanes in California
March 2012
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SACRAMENTO, Calif.According to a new report by the California Healthcare Institute, BayBio and PwC US, the biomedical industry is flagging in California. Between 2008, when industry employment peaked, and 2011, approximately 6,300 biomedical jobs were lost, with 3,121 of those jobs lost in the academic research sector. In addition, many companies have decreased operations in California to expand outside the state. Nearly three-quarters of respondents in the 2012 California Biomedical Industry Report said their companies had delayed a research or development project in the last year, with over 40 percent citing "funding not available" as the cause. However, California still remains the source of roughly 28 percent of the United States' biomedical pipeline, and the report noted that while the pace is uncertain, the industry is expected to regain momentum.

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