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Silicon Valley Biomedical Sector is Growing Despite Recession
Submitted on:
04.10.2009
In Silicon Valley, major industries including the semiconductor and computer industries have traditionally out-shined the developing biomedical sector. However, the Mercury News' annual Silicon Valley 150 company rankings report (SV150) showed the biomedical sector has remained strong despite the national recession. According to the SV150, total profits for biomedical companies in the area ranked eighth among 11 industries being tracked. The report also showed that biomedical firms in Silicon Valley have increased their workforce by 2 percent while other sectors have scaled back. CHI member Gilead Sciences moved up in the ranks to 18 from 20 just a year ago. The biomedical industry has become one of the strongest pillars of California's economy and is on on the forefront of new medical discoveries to address serious public health problems.
Click here to read the full article in the San Jose Mercury News.
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