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What Have You Done for Me Lately?
Some get tax breaks for staying in the city, but others say not enough is done
The Scientist 2004, 18(Supplement 1):S20
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The New York City life sciences got a boost this year when two biotechs, ImClone Systems Inc. and Eyetech Pharmaceuticals Inc., announced plans to expand operations in the city. The decisions bucked the trend that has biotechs quitting the city because of a lack of available lab space. Coincidental or not, the announcements occurred around the time that the Food & Drug Administration approved or signaled support of their newly developed drugs. In another success for the city, Pfizer Inc., the world's biggest pharmaceutical company, has also announced plans to create 1,000 new jobs at its Manhattan headquarters.
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