Milken report: The Hub is still tops in life sciences

Boston, Philadelphia, San Francisco, and their suburbs continue to be the most successful regions at sustaining value in the life sciences, according to a new report from the Milken Institute.

One report finding: The life sciences industry is prepared to weather the economic downturn and poised to benefit from federal policy and stimulus initiatives and future overall recovery.

The Milken Institute, which describes itself as a nonprofit economic think tank based in California, released its study at the BIO International Convention, now underway in Atlanta.

"Boston remains on top, Greater Philadelphia moves up to second from third, and San Francisco drops one spot to third," the institute said in a press release.

The release included a statement from Ross DeVol, director of regional economics at the Milken Institute.

"We've been saying for years that regions that cultivate their life sciences assets - including universities, hospitals, tech spin-offs, and start-ups - are best prepared to succeed in a changing economy," DeVol said. "These top performers are well suited to ride out the recession and thrive in the recovery."

The study was sponsored BioAdvance, PhRMA, PricewaterhouseCoopers, Select Greater Philadelphia, BioNJ, Delaware BioScience Association, Greater Philadelphia Life Sciences Congress, and Pennsylvania Bio, the institute said, and the purpose of the study was to define Greater Philadelphia's opportunities and challenges in life sciences.
(By Chris Reidy, Globe staff)

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