Life Sciences: New drugs and devices
Fresh off their success in hosting well-attended national industry conventions in Boston, Massachusetts biotechnology and medical technology companies will turn their attention next year to bringing new drugs and devices to market.
After years of research and clinical trials, several biotechs are making the transition to full-scale commercial enterprises as they win Food and Drug Administration approval for new therapies. Vertex Pharmaceuticals Inc., Ironwood Pharmaceuticals Inc., and Ariad Pharmaceuticals Inc., will ramp up sales in 2013 after getting the green light from the FDA in 2012. Other drug makers, notably AVEO Pharmaceuticals Inc. of Cambridge, are hoping to join them next year.
At the same time, a growing number of global pharmaceutical companies are setting up operations in the Boston area to strike drug research partnerships with the region’s cluster of venture-backed biotechnology firms and university and hospital researchers.
Medical device companies, meanwhile, are looking forward to a faster review process from FDA regulators so they can get their products to market sooner. They will continue to fight a new federal tax to help pay for President Obama’s health care overhaul.
With new leadership, one the state’s best known device makers, Boston Scientific, will focus on developing new products to help the company regain its competitive advantage and rebound from some disastrous decisions in recent years. - Robert Weisman