Global Connections in Pharma Strengthen America's Economy

March 17, 2021

International companies operating in the United States play an important role in supporting the U.S. pharmaceutical industry through foreign direct investment (FDI). The latest Bureau of Economic Analysis (BEA) data shows international pharmaceutical companies’ investment in the United States has grown more than 500 percent over the last 10 years, reaching $511 billion in 2019. International companies supported a staggering 215 percent of all new jobs created in the chemical products industry, which includes pharmaceuticals, between 2013 and 2018. At a time when the U.S.-based companies’ employment in the industry declined, international companies more than compensated, adding 79,400 jobs in the sector over that period.