The Nation’s Medicine Chest Has Empty Shelf Space
1 CommentBy Ed Silverman // August 18th, 2008 // 6:03 pm
Layoffs and restructurings are taking a toll on drug and device makers in New Jersey, which for decades has prided itself on being home to many of the world’s biggest such companies.
However, a survey released today shows employment fell 1 percent in 2007 from a year earlier among the 22 members of the HealthCare Institute of New Jersey. The total state payroll, however, rose 1.3 percent to $7.7 billion, and the statewide economic impact rose 3.8 percent to $27 billion last year. The survey found that members of the group increased R&D spending by 5.3 percent, to $7.9 billion.
Of course, the picture is likely to look very different if Roche succeeds in buying the rest of Genentech and transfers most of its New Jersey operations - including US headquarters and manufacturing - to California (back story and more background on disappearing industry jobs).
Austin Lee
These are difficult times. Big pharma has tough business decisions to make. It’s unfortunate that some of the decisions will have a human toll.
Austin
http://drughealth.blogspot.com/