Life Sciences

Industry Overview

Increasingly, leading pharmaceutical, medical device and biotechnology firms are choosing Virginia. Here you'll find dynamic research universities, numerous federally funded facilities, renowned research institutes, such as SRI International and the Howard Hughes Medical Institute, as well as major manufacturers including Merck, Abbott, Teva, Novozymes Biologicals and Fareva. Our established and growing bioscience base gives you direct access to cutting-edge technology and some of the world's leading researchers. Competitive operating costs, a business-friendly environment and a highly skilled workforce are driving Virginia's growing bioscience sector and fostering discoveries every day.

Virginia's Life Sciences Industry

  • Virginia’s Life Sciences Industry employs more than 25,400 people at over 1,000 establishments
  • Composition of Life Sciences companies by segment and employment is:
    • Bioscience Related Distribution (25%)
    • Research, Testing and Medical Laboratories (46%)
    • Drug and Pharmaceuticals Production 15%)
    • Medical Devices and Equipment Production (13%)
  • Over the past 10 years, life sciences companies have announced over 8,869 new jobs and capital investments of $1.4 billion
  • Virginia also has a noteworthy presence of major bioscience-related distributors such as Fortune-ranked Owens & Minor and McKesson
  • To view the complete Life Sciences Industry Profile, click here

Key Research, Testing and Medical Laboratories

  • AlBioTech
  • ATCC
  • Battelle
  • Howard Hughes Medical Institute
  • LabCorp

  • Pharmaceutical Product Development
  • PRA International
  • Quest Diagnostics
  • SRI International
  • True Health Diagnostics

  • Virginia’s Research, Testing and Medical Laboratories sector employs over 11,800 people and consists of more than 345 firms
  • The Life Science Industry in Virginia benefits from a unique combination of global companies, start-ups and university R&D

Key Pharmaceutical Companies

  • Abbott Laboratories
  • C.B. Fleet
  • Fareva Group

  • Merck'
  • Novozymes Biologicals
  • Teva Pharmaceuticals Industries

  • The Pharmaceutical sector employs approximately 3,800 people and consists of 66 firms
  • Virginia’s pharmaceutical products include prescription and over the counter medications, as well as materials used in research and testing

Key Medical Device Companies

  • Abbott Laboratories
  • C.B. Fleet
  • Fareva Group

  • Merck'
  • Novozymes Biologicals
  • Teva Pharmaceuticals Industries

  • Virginia's Medical Devices and Equipment sector employs over 3,100 people and covers more than 160 firms
  • Medical devices made in Virginia include implants, digital imaging equipment, and precision instruments

 

Assets/Virginia Advantages

  • No matter your location in the Commonwealth, companies and entrepreneurs alike find countless opportunities for co-location and cooperative relationships with Virginia's universities, federal labs and other research entities.
  • Situated in the middle of the Mid-Atlantic's life science cluster, a Virginia location gives you access to key Federal Agencies, including NIH, FDA and NSF, as well as a large concentration of federal contractors and integrators, such as Booz Allen Hamilton, CSC, Northrop Grumman, SAIC and SRA International.
  • Bioscience-related research accounts for 51% of all academic R&D spending in Virginia.
  • Virginia is home to 11 Federally Funded R&D Centers and 22 FLC laboratories.
  • In 2015, Virginia companies or researchers received 253 SBIR awards with a total value of $113.7 million.
  • In 2015, there were 74 venture capital deals in Virginia, with eight deals in Biotechnology valued at $46.3 million.

VIRGINIA ECONOMIC DEVELOPMENT PARTNERSHIP

© 2016 All rights reserved.