Monday was a good day to be a life sciences company in Indiana.

Maybe you’ve heard about some of the good things happening with life sciences job growth in our home state. On Monday, The Wall Street Journal memorialized them with a small business special report called “Where the Action Is,” positioning Indianapolis as a true hotbed of life sciences activity among U.S. peers.

The data? In less than 10 years, Indiana has added 8,800 new life sciences jobs. More than 800 life sciences companies are based in Indiana – everything from biopharmaceutical companies like Lilly to multiple medical device organizations in Northern Indiana — with millions of dollars in seed and venture capital money paving the way. Lilly alone has contributed around $60 million to create a brighter life sciences environment in the state.

Why is this important? Life sciences lead to high-paying jobs, which lead to spending power, tax revenues, and an overall healthier economy. Of course, with the country facing a massive deficit problem (and at least $1.2 trillion in additional cuts by the new congressional “super committee”) we need to hope that incentives to research new and better medicines, along with other innovations, aren’t eliminated. Among the possibilities: Congress is expected to consider making cuts to Medicare Part D, the prescription drug program for older Americans. Ironically, it’s a program that already works quite well (more than 80 percent of enrollees approve) and efficiently (the program is 41 percent below forecast).

Slicing Medicare Part D won’t make much of a dent in the deficit, but it could alter a highly success program and put a damper on job creation like we’ve seen in Indiana. It’s a dangerous pathway. 

About this Article:

This article originally appeared on LillyPad, an official blog of Eli Lilly and Company. In their words:

“We launched this blog so we could begin a dialogue with the public on matters that are important to us and those following the biopharmaceutical industry. We’ll focus on public policy issues, corporate responsibility initiatives, our advocacy efforts and the work our employees do every day to make the world a healthier place to live. We’ll be sharing our perspective on issues that affect people from Washington D.C. to the heartland – from health and wellness to innovation to job creation. But we don’t want to simply provide our perspective on the issues. We want this to be a two-way conversation and encourage you to join us and share your thoughts.”

Learn more here.    

Click here to learn more about Greg Kueterman. 

About Eli Lilly Canada Inc.

Providing Answers that Matter

Founded in 1938, Eli Lilly Canada Inc. has since grown to become one of Canada’s leading research-based pharmaceutical companies. We’ve repeatedly been recognized as one of the best companies to work for in Canada, and many generations of Lilly Canada employees have sustained a culture that values excellence, integrity and respect for people.

Globally, Eli Lilly and Company employs more than 40,000 people and markets medicines in 143 countries. With major Research and Development facilities in eight countries and clinical trials ongoing in more than 50 countries, Lilly’s work continues to break new ground, placing it on the leading edge in many of today’s most important areas of health care research.

By applying the latest research from our own worldwide laboratories, collaborating with eminent scientific organizations and employing the most up-to-date technology, Lilly is developing a growing portfolio of best-in-class and first-in-class pharmaceutical products.

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