"The biopharmaceutical sector supports more than 7.4 million jobs and contributes $426 billion annually to U.S. GDP."
The innovative biopharmaceutical sector provides an illustrative example of the importance of IP-intensive industries to the U.S. economy. The sector supports more than 7.4 million jobs and contributes $426 billion annually to U.S.GDP. Exports from the U.S. biopharmaceutical industry totaled $49.4 billion in 2010, making it the fourth-largest exporter among IP-intensive industries. It is important the United States remains competitive in this sector and that we fight illegal IP practices that could compromise this critical industry. To ensure this, we must insist on perfecting the TPP Agreement instead of rushing to get it completed.