What are biotech or pharma hubs?
There are a few geographic areas in the world where there is an especially high concentration of biopharma companies. The two largest biotech hubs are in the San Francisco and Boston/Cambridge areas in the United States. New Jersey and the Philadelphia area also have a high concentration of larger pharma companies. Smaller hubs in the US as found in Research Triangle Park in North Carolina and San Diego.
Why do biotech hubs exist?
The existence of the high concentration of companies in just a few geographies is likely due to talent pools, academic infrastructure, and local laws which favor the companies financially. Hubs are often viewed as the result of a snowball effect- once it hits a certain size and influence, it feeds on itself, driving more scientists, investors, startups, etc. to the area in order to leverage the existing and growing network. Employees in various functions often prefer to live in these hubs as it allows them flexibility and easier room for growth within the ecosystem long-term.