08/01/2024 | News release | Distributed by Public on 08/01/2024 12:22
America's biopharmaceutical research companies are making significant investments in STEM (science, technology, engineering and mathematics) education to support career paths within the industry, according to a survey of the country's leading biopharmaceutical companies conducted by TEConomy.
Why it matters: Every stage of the biopharmaceutical life cycle - from research and development to manufacturing and shipping - relies heavily on highly skilled individuals with knowledge and experiences in STEM. A strong biopharmaceutical research industry depends on a deep pool of talent with education and skills in these critical fields.
Many research companies - approximately 90% of those surveyed - experience difficulties recruiting the skilled talent that they need. The TEConomy report notes that 70% of companies believe STEM-related skills and workforce shortages have increased over time. That's why the industry is making a sustained investment to advance STEM education programs for students and teachers across all education levels.
The details: Based on a survey of 10 PhRMA member companies, the report details how companies partner with schools, the focus of their programming, the level of company investment, and the programs' impacts. While not representative of the entire industry, the report provides a clear snapshot of the industry's commitment to expanding STEM education. According to the TEConomy report:
Go deeper:
America's biopharmaceutical research companies make significant investments in the research and development of innovative medicines that improve the health and well-being of patients and society and push forward the frontiers of science. Investing in STEM education is one more way that our industry is making a difference in the lives of countless Americans in communities from coast to coast.