STAT+: Biotechs face challenges as the industry’s annual bash returns to Boston
As the biotech bash BIO 2023 opens tomorrow, industry leaders are bracing for tougher challenges even as they trumpet their triumphs.
The world has changed since 2018 when the Biotechnology Innovation Organization last brought its annual road show to Boston, complete with entrepreneurial boot camps, beer-flowing receptions, and four days of nonstop networking.
Since then, a global pandemic showcased the industry’s prowess in rushing out lifesaving vaccines — elevating scientists to the status of saviors, at least for a fleeting moment. But complaints about steep prices for drugs have grown louder, sparking a backlash in Washington, D.C., that threatens to disrupt the biotech business model crucial to the Massachusetts economy.
As more than 15,000 executives, investors, and promoters from around the world arrive at the Boston Convention and Exhibition Center for the BIO 2023 convention, which opens Monday, industry leaders are bracing for tougher challenges even as they trumpet their triumphs.
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