When you think of groundbreaking clinical research, you might first think of places like Silicon Valley or Cambridge, Massachusetts, but look no further than Idaho. The Gem State has established itself as a key location for medical and scientific research that not only saves and improves lives, but also creates jobs and drives the state’s economy.
Idaho is home to nearly 11,000 jobs supported by the biopharmaceutical industry, including companies like Velocity Clinical Research in Meridian. Velocity is doing important work in several therapeutic areas to help the nation be better prepared for future infectious disease outbreaks. We are one of several sites in Idaho that have conducted more than 550 clinical trials in the past five years alone, enrolling more than one million participants to advance the treatment of diseases such as diabetes, heart disease and cancer.
That’s why it’s such a concern in our state when politicians target pharmaceutical companies as the primary means of lowering prescription drug prices. It’s a misconception that the list price set by pharmaceutical companies is the price we, the consumers, actually pay at the pharmacy counter. Insurance companies and corporate middlemen called pharmacy benefit managers actually play a large role in determining prices. Disincentivizing clinical research in the United States, and in Idaho in particular, could cost jobs, stunt economic growth, and delay the future of healthcare.
Every biopharmaceutical company and clinical research facility in the state not only creates direct jobs, but also supports an indirect network of vendors who provide lab equipment, build brick-and-mortar stores, offer cleaning and maintenance services, provide food, transportation, and a variety of other necessities, etc. Every clinical research facility in the state is an economic ecosystem that provides good jobs and economic opportunity.
We Work For Health recently conducted a study to quantify this economic impact. They looked at 2022 data for vendors and suppliers working with 15 large biopharmaceutical companies and found that these companies (58 statewide) generated $8 million in vendor spend in Idaho. By any measure, this is a critical part of Idaho’s economy and an asset that should be nurtured.
That said, prescription drug affordability remains a critical issue that must be addressed for working families in Idaho and across the nation. Those of us who have dedicated our careers to life sciences and medical research do so because we believe everyone should have access to new life-improving therapies. And policy solutions certainly exist that can improve access and affordability without putting a huge strain on job creation and the economy.
We benefit in many ways from the clinical research activity taking place in Idaho. When the United States leads the world in biopharmaceutical research and development, it not only improves our collective health and better protects us from unforeseen public health hazards, it also helps build our economy and create new opportunities for working families. We need to find a way to balance drug affordability with a strong innovation economy.
Finally, I want to thank everyone who continues to take part in research studies. Without clinical trial participants, research and development of new medicines, vaccines, medical devices and treatments would not be possible.
Jennifer Reilly is Clinical Site Director for Velocity Clinical Research, whose Boise research facility is the first freestanding clinical research site in Idaho. Velocity conducts clinical trials for a wide range of indications. To learn more about clinical research and to view current trials in Boise, visit VelocityClinicalTrials.com.