In an article earlier last month and another one last Monday, Inquirer business writer Joe DiStefano has been asking why the Boston and San Francisco areas have been replacing Philly as a biomedical research hub.
Twenty years ago, 75 percent of all pharma companies in the U.S. were located within a 90-mile radius of Philly. In his latest effort to explore why Philadelphia has been falling behind San Fran and Boston, DiStefano spoke with academic medical researchers, venture capitalists and university administrators.
These sources mention two reasons to account for Philly's decline in this field. First, they claim the university medical schools in the other two cities maintain closer, more extensive ties with pharma, effectively forming an academic-medical-industrial complex in each area.
Read Full Article »