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(NECN) – In 2013, the life sciences industry in Massachusetts has been through highs and lows.
For example, Vertex Pharmaceuticals recently had a sharp drop in their key Hepatitis C drug, which led to them laying off 370 employees, including 175 in Massachusetts. They also plan to move their Boston location to a new $800 million headquarters later this month.
Bob Coughlin, President and CEO of the Massachusetts Biotechnology Council, talked about the pipeline.
“Things are great. There are ups and downs in any industry. I think the future is bright. Our numbers continue to grow. Making drugs- inventing drugs- is a difficult business, but we are doing well. We’re growing in employment, we’re growing in revenue, we’re growing in products that are in our pipeline for future therapies, the IPO market has been underway,” Coughlin explained.
Coughlin went on to discuss the IPO market. Additionally, Coughlin discusses what can be done to strengthen the industry.