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Report: State's pharmaceutical contractors continue to grow

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Indiana companies providing contract pharmaceutical research and manufacturing services continued to grow last year despite the severe economic challenges, according to a report set to be released Wednesday by BioCrossroads.

The life sciences industry group cited such Indianapolis companies as AIT Laboratories and BioStorage Technologies, as well as Bloomington-based BioConvergence, as examples of the growth.

A drive within the pharmaceutical and biotechnology industries to lower costs by outsourcing work to contract service providers is driving much of the expansion, the report said.

“We believe the outlook for the biopharma contract service sector continues to be positive, particularly for Indiana’s pharmaceutical development and contract manufacturing companies,” BioCrossroads CEO David Johnson said in a prepared statement.

The report said the demand for contract service providers should continue to increase as the need for more clinical trials and biomarker services escalates. However, the report cautioned that consolidation within the pharmaceutical industry also could force contractors to find new revenue sources.

More than 40 companies considered contract service providers are located in Indiana. Altogether, they employ about 9,000 people, the report said.

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  1. The east side does have potential...and I have always thought Washington Scare should become an outlet mall. Anyone remember how popular Eastgate was? Well, Indy has no outlet malls, we have to go to Edinburgh for the deep discounts and I don't understand why. Jim is right. We need a few good eastsiders interested in actually making some noise and trying to change the commerce, culture and stereotypes of the East side. Irvington is very progressive and making great strides, why can't the far east side ride on their coat tails to make some changes?

  2. Boston.com has an article from 2010 where they talk about how Interactions moved to Massachusetts in the year prior. http://www.boston.com/business/technology/innoeco/2010/07/interactions_banks_63_million.html The article includes a link back to that Inside Indiana Business press release I linked to earlier, snarkily noting, "Guess this 2006 plan to create 200-plus new jobs in Indiana didn't exactly work out."

  3. I live on the east side and I have read all your comments. a local paper just did an article on Washington square mall with just as many comments and concerns. I am not sure if they are still around, but there was an east side coalition with good intentions to do good things on the east side. And there is a facebook post that called my eastside indy with many old members of the eastside who voice concerns about the east side of the city. We need to come together and not just complain and moan, but come up with actual concrete solutions, because what Dal said is very very true- the eastside could be a goldmine in the right hands. But if anyone is going damn, and change things, it is us eastside residents

  4. Please go back re-read your economics text book and the fine print on the February 2014 CBO report. A minimum wage increase has never resulted in a net job loss...

  5. The GOP at the Statehouse is more interested in PR to keep their majority, than using it to get anything good actually done. The State continues its downward spiral.

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