Connecticut is losing more bioscience jobs than it is gaining, despite a sizable jump in research and development jobs over the last three years. Alexion’s departure is the latest in a line that has undercut bioscience growth. Nonetheless, many say New Haven is nearing a “critical mass” after years of effort by Yale and a new cluster is emerging in Farmington after more than $1 billion in state investment.
Alexion
Posted inMoney, Politics
Alexion reminds Malloy of the risks and rewards of corporate aid
Gov. Dannel P. Malloy picked the gleaming new New Haven offices and labs of Alexion Pharmaceuticals a year ago to highlight the returns Connecticut was getting on its economic development investments. On Tuesday, Malloy stood outside his office to answer questions about Alexion’s plans to slash jobs, close a Rhode Island production facility and relocate its headquarters to Massachusetts, while keeping a “Research Center of Excellence” in New Haven.
Posted inHealth, Politics
Trump attempt to rein in drug prices may have limited success
WASHINGTON – The president’s spokesman says Trump still favors a plan to negotiate Medicare prices, but he did not mention it after a recent meeting with pharmaceutical executives, and his plans to speed FDA approval of new drugs may be hampered by his restrictions on new regulations and cuts to the federal workforce.
Posted inMoney, Politics
Call it corporate welfare or investment, Malloy says it pays off
NEW HAVEN — Gov. Dannel P. Malloy gave an upbeat assessment Tuesday of what Connecticut is getting for the $256.6 million in direct state assistance he’s given to some of the world’s biggest and richest corporations, investments often made in the face of genteel blackmail — the knowledge another governor may be waiting with a competing offer.
Posted inMoney
Connecticut companies worry they’ll lose valuable R&D tax break
Washington – Corporations like Pfizer, United Technologies, Alexion and others spend millions on research each year, hoping to develop new products or processes that contribute to their bottom line.