Recognized for decades as a major hub for the biotech industry, Massachusetts is yet again on the verge of a resurgence within the life sciences sector, with an expanding research and development workforce helping ensure biopharma companies can deliver life-changing treatments to patients worldwide. On the heels of waning workforce numbers following the pandemic, 2023 offered hope with the addition of almost 3,000 biopharma jobs—nearly 17% of the entire state’s job growth.
To better understand how the industry is positioned to address our nation’s most pressing health care challenges, Governor Maura Healey recently toured the evolving research hub of pharma leader Novo Nordisk.
Widely known for their strong focus on developing life changing medicines for patients living with diabetes and obesity, Novo Nordisk offers a valuable case study on the potential and future of Massachusetts’ life sciences industry. Unlike any other pharmaceutical company, Novo Nordisk’s controlling shareholder is a charitable foundation, which allows them to invest in early science and take risks for the benefit of patients with the goal of treating and defeating serious chronic diseases. When the company sought to expand its biomedical research in the United States, Boston was a common-sense choice.
Within Massachusetts, the greater Boston area is a world-renowned hub for innovation and cutting-edge science and technology. Home to Novo Nordisk’s largest research and development hub outside of Denmark, Boston’s outsized concentration of intellectual capital, innovative infrastructure and opportunities for interdisciplinary collaboration positioned Massachusetts as an ideal location for pushing the boundaries of scientific discovery. Further, the area also provides access to unparalleled talent, diverse perspectives and a beacon for the best ideas in the industry—factors critical to Novo Nordisk and fellow pharma leaders in fulfilling their commitments to improving patient health outcomes.
Novo Nordisk’s work in the Boston area is just one of many testaments to the sustained investment in the life sciences industry on the part of state leadership. In visiting research and development sites like Novo Nordisk’s, state lawmakers have an opportunity to witness firsthand the results of pro-life sciences decision-making and a strong focus on what matters the most – the patients our industry serves.
Governor Healey is one lawmaker who has been a tremendous proponent of the life sciences sector—most recently through her efforts to enact Massachusetts’ Life Sciences 3.0 initiative, an economic development bill that would reauthorize the state’s existing Life Sciences initiative with a new $1 billion, 10-year strategy. Despite the state Senate’s proposed cuts to the initiative this summer, many remain hopeful that the influx of funding will further strengthen and expand the growing industry.
In addition to Governor Healey and fellow lawmakers’ legislative support of life sciences, their dedication to the sector also shows up in the time they spend touring pharma sites and facilities across the state. Through tours, lawmakers are provided opportunities to tout their own contributions to the industry, rally support for continued investments, deepen public- and private-sector collaboration and learn more about what all goes into developing life-changing medicines for patients with chronic diseases.
Governor Healey’s recent visit also comes at a critical moment when Americans’ ability to access healthcare innovations in the future remains uncertain. Due to seismic changes at the federal level around how drugs are priced and controlled, the U.S. faces up to a 44% drop in new medicines, which could lead to scarcity and prolong the time patients must wait for treatment, sometime with limited options. Fortunately, under Governor Healey’s leadership and Massachusetts’ historic support for the life sciences sector, signs point to the state being positioned to circumvent the grim projection.
On the part of Novo Nordisk and the nearly 1,000 biopharma companies that operate in greater Boston, recent investments signal a shared commitment to cementing Massachusetts as a pioneer in the biotech industry. Novo Nordisk expects to grow their greater Boston workforce by 75 people in 2024 alone, expand their great Boston campus by 100,000 square feet to ensure the hub is fully integrated with end-to-end early research to development capabilities and continue aspiring toward a cure for diabetes.
Thanks to Governor Healey, and all lawmakers in support of expanding Massachusetts’ life sciences sector, Novo Nordisk and the hundreds of other life sciences companies that call greater Boston home will be able to continue developing innovative medicines and ensuring their accessibility and affordability to those who need them.
About the Author
Jacob Sten Petersen
Senior Vice President, Global Nucleic Acid Therapies & US R&D Greater Boston Site Head, Novo Nordisk
Jacob Sten Petersen is currently the Senior Vice President, Head of Global Nucleic Acid Therapies, developing next generation siRNA and gene therapies. Jacob joined Novo Nordisk in 1998 as Head of Islet Discovery Research and has since held various research leadership positions of growing size and complexity.
Jacob’s extensive 25-year career at Novo Nordisk, has included roles such as the Corporate Vice President, Head of Cell Therapies R&D where he was responsible for building a new organization with full R&D value chain capabilities including manufacturing and device site and was Head of Global Research within metabolic diseases including diabetes, obesity, cardiovascular disease, liver disease, kidney disease, beta cells, and type 1 diabetes.
Jacob has more than 70 published papers in peered reviewed journals and has been an adjunct professor at Copenhagen University in Biomedicine. Jacob holds several board positions including Chairman of the Board of JDRF Denmark, Chairman of the Board of Ketotic Hypoglycemia International, board member at Novo Nordisk Pharmatec A/S and Alliance for Regenerative Medicine (ARM).