June 8, 2017, Los Angeles—As President C. L. Max Nikias addressed leaders of the medical, business, and civic community during the “Business of Biotech” event on the USC Health Sciences Campus, he emphasized the urgency of this moment in history as a critical juncture for Los Angeles:
Never before in human history has there been an age in which we can explore so many intellectual frontiers and design so many incredible technologies. Astonishing advances in medicine and the life sciences are delivering better treatments and therapies, allowing all of us to live better lives.
Over the next 20 to 30 years, it will be biotechnology that will be the fastest growing sector of the global economy. In 2013, the international market for biotech was valued at about $270 billion. By 2020, it is expected to more than double to over $600 billion.
Read the complete remarks on the Office of the President website.