California is home to two of the world’s largest biopharma clusters in the San Francisco and San Diego regions. However, the financial squeeze on startups and the combination of federal and state red tape have tarnished the Golden State’s image in the eyes of biopharma CEOs, if a recent survey is any indication.
Nearly three-quarters (74.2%) of some 100 CEOs surveyed said their companies were forced to delay a research or development project in the last year. When asked why, 40.2% cited the lack of available financing, while 27.8% of CEOs blamed regulation by FDA, its state counterpart called the California Food and Drug Branch, and other state and federal agencies.
To read the full, original article click on this link: GEN | Insight & Intelligence™: Capital Squeeze, Red Tape Mean Less California Dreamin’ for Biopharma CEOs
