If all 87 of the Bay State’s publicly traded biotech firms pooled their cash together, it would equal $8.4 billion — enough to buy all four of New England’s professional sports teams with enough left over to buy all 14.5 million residents of the region each a brand-new Patriots hooded sweatshirt.
That wasn’t true 18 months ago, when the amount of cash (and near-cash items) held by the state’s biotech and pharmaceutical firms was roughly half that number, according to Bloomberg data. All told, the sector saw an 87 percent increase in cash reserves between January 2014 and June 30 of this year, versus a 59 percent increase reported in 2012 and 2013 combined.
Hey, check out all the research scientist jobs. Post your resume today!
