Through 2008, during the worst recession in more than a generation, the biopharmaceutical sector grew by 1.4 percent. At the same time, total private-sector employment went in the opposite direction, declining 0.7 percent. Without the robust growth of biopharmaceutical companies, the recession would’ve been even worse.

America dominates biopharma. In 2007, more than 2,700 drugs were under development in the U.S. — compared to just 1,700 in the rest of the world.

From 1996 to 2006, the number of domestic jobs in the industry exploded, growing at twice the rate of job creation elsewhere in the economy. Biopharma employs almost 700,000 people and supports 3.2 million American jobs.

These are good-paying jobs, too. The average salary in the biopharmaceutical sector was $77,595 in 2008 — $32,000 more than the average private-sector job.

But the biopharmaceutical sector does more than foster economic growth — its research also saves lives.

Antiretroviral treatments have cut AIDS deaths by 70 percent. Innovative drugs are largely responsible for cutting cancer death rates in half. One Columbia University study found that between 1991 and 2004, the average American lifespan increased by nearly 2 1/2 years. The researchers attributed this staggering achievement to new drugs and better medical imaging technology.

But American dominance of this sector in the future isn’t a certainty. European and Asian companies are fighting harder and harder for a larger piece of the biopharma pie.

So how do we make sure that America remains at the top?

First, the U.S. must remain an attractive place to do business. Biopharma is a very dynamic industry. Scrappy start-ups compete head to head with some of the biggest companies in the world. Excessive taxes and an onerous regulatory environment will discourage new businesses from sprouting up, and will prompt more established actors to seek friendlier climes abroad.

Second, the U.S. must resist the temptation to forcibly limit the price of drugs. Pharmaceuticals are a high-risk, high-reward business. The average drug costs more than $1 billion to develop. For every 5,000 to 10,000 compounds that enter testing, only one will get FDA approval and make it to market.

If government price controls prevent companies from recouping the billions they pour into research and development, then investors will refuse to fund the next round of innovative research.

Finally, America’s leaders must work to improve the American educational system so that we can produce the bright young people that medical research requires.

American students rank 21st in science and 25th in math when compared to students from 30 other countries. Our lack of science and math aptitude threatens to imperil our standing as a global leader in innovation.

President Barack Obama has spoken forcefully about closing this gap, and his administration’s “Educate to Innovate” program has committed $260 million to improving math and science education. This is a good start, but more needs to be done.

In this trying economy, America’s biopharmaceutical sector provides a reason for optimism. Our leaders must make sure that the industry can continue to grow and breathe new life into the economy.