Hartford Business Journal Special Editions

Doing Business In Connecticut 2015

Issue link: https://nebusinessmedia.uberflip.com/i/518124

Contents of this Issue

Navigation

Page 74 of 115

2015 | Doing Business in Connecticut 75 SPONSORED REPORT • Alexion Pharmaceuticals Inc., which broke ground in 2013 for new headquarters in the Elm City, has be- come a biotech leader with the release of Soliris, a drug to treat paroxysmal nocturnal hemoglobinuria (PNH), an ultra-rare genetic blood disease. While waging molecular war on rare diseases is financially prohibitive for most com- panies, Alexion has found considerable success operating in this arena, creat- ing a treatment that is cheaper than the alternatives—multiple hospitaliza- tions and related outpatient care—and that most insurance companies cover. (In cases where it is not covered, Alex- ion provides the treatment for free.) In December 2014, Alexion formed a partnership with UConn to expand stem-cell research into combating diseases for which mainstream treat- ments do not exist. The collaboration, focused on the discovery and testing of therapeutic candidates to treat rare and disabling disorders, fits with the university's goal of expanding edu- cational opportunities, research, and STEM innovation. • Boehringer Ingelheim, the largest headquartered pharmaceutical company in the state, recently opened its $65 million state-of-the-art Pilot Plant in Ridgefield. This manufactur- ing facility will produce compounds for preclinical and early-phase clinical studies and help bring innovative and cost effective medicines to patients quickly. This site is the hub for BI's North American research, which is pay- ing rich dividends—in the past year the company launched Striverdi Respimat for chronic obstructive pulmonary dis- ease, Jardiance and Glyxambi for type 2 diabetes, Ofev for idiopathic pulmo- nary fibrosis, and Vargatef for ad- vanced lung cancer. BI employees hail from 134 of Connecticut's 169 towns. • Bristol-Myers Squibb, an in- dustry giant with a million-square-foot facility in Wallingford, has developed the first immune-based treatment for lung cancer. The drug Opdivo, which frees the body's own immune system to attack tumors and could displace more conventional chemotherapy for certain patients, won FDA approval last year to treat advanced cases of melanoma. In an even more significant turn, it has been approved to treat lung cancer, by far the leading cause of cancer deaths with 224,000 new diagnoses and nearly 160,000 deaths last year. • Mannkind's Afrezza, the world's first inhalable and fast-acting insulin, hit the market in February, after several years in development. The Danbury-based drugmaker this year tripled production of the FDA-ap- proved inhalant, which has been called a gamechanger for patients with type 1 and type 2 diabetes. • Pfizer's research and develop- ment facility in Groton, in what's been described as the touchdown pass of chemistry, won accelerated U.S. FDA approval of Ibrance, a new breast can- cer treatment that shows great prom- ise, in preliminary trials, of increasing patients' survival rates. The chemical development followed years of early biological research into regulators of cell growth that lead to the prolifera- tion of cancer in the body. Nurturing Connecticut's Bioscience Sector "These industries represent new and emerging technologies as well as key economic drivers for the state," says Joe Brennan, president and CEO of the Connecticut Business & Industry Association, the state's leading busi- ness organization. "As they develop lifesaving medi- cines, new medical treatments, critical medical devices, and other innovative products, we need to make sure that Connecticut remains a desirable place for bioscience companies to operate and invest." In December 2014, CBIA estab- lished the Connecticut Bioscience Growth Council to represent the interests of biotechnology, biophar- maceutical, and related industries at the State Capitol and regulatory agen- cies. The council supports well-funded basic, translational, and industry research, coupled with robust clini- cal and product development, which leads to new medicines on pharmacy shelves, new medical device options for patients, and higher quality foods for consumers. Paul Pescatello, chair of the Con- necticut Bioscience Growth Council, says his group advocates for policies such as the research and development tax credit for established and early- stage companies, which positions these companies for growth. "Biotechnology and related indus- tries are a keystone for Connecticut's future," says Pescatello. "The value they bring to the state's economy and, most importantly, to patients and con- sumers, cannot be underestimated." "If we want this important indus- try to grow in Connecticut, policy- makers need to know the issues that are important to us," says Mary Kay Fenton, Achillion executive vice presi- dent and chief financial officer and a CBIA board member. "Tax policy, intellectual property protection, and infrastructure improvements are criti- cal to us and are paramount to the mission of the Connecticut Bioscience Growth Council." The council merges several of Con- necticut's key workforce and economic development efforts—recruiting and re- taining biotech R&D, including The Jack- son Laboratory; developing and retaining top-flight talent in technology and life sciences; and nurturing one of the state's most important business sectors. To learn more about Connecticut's bioscience industry, visit cbia.com/ctbio.

Articles in this issue

Links on this page

Archives of this issue

view archives of Hartford Business Journal Special Editions - Doing Business In Connecticut 2015