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Old 11-08-2009, 10:33 PM
 
195 posts, read 490,633 times
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In 1990, 20 percent of the nation’s pharmaceutical jobs were in New Jersey. It now has 13 percent of them. From 2007 to 2008, the state lost 10 percent of its jobs in the high-paying industry.

Now a wave of pharmaceutical consolidations involving New Jersey firms, including Pfizer Inc.’s purchase of Wyeth in Madison and Merck & Co. Inc.’s purchase of Schering-Plough Corp., headquartered in Kenilworth, is likely to cost the state even more of those jobs.


N.J. has been hit hard by the recession (http://www.philly.com/philly/business/20091108_N_J__has_been_hit_hard_by_the_recession.h tml - broken link)

http://escapefromjersey.blogspot.com/
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Old 11-09-2009, 06:01 AM
 
835 posts, read 1,177,040 times
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Don't worry its going to get worse as Bristol Meyers and Johnson and Johnson start laying off people as well.

http://postcards.blogs.fortune.cnn.c...f-jjs-layoffs/



http://blog.pharmexec.com/2009/10/21...s-and-buyouts/

Pfizer plans to close its Bridgewater, NJ, facility and Wyeth’s Great Valley, PA, campus by mid-2010. The Morris Plains, NJ, facility is still under review, and Wyeth’s Collegeville, PA, location will serve as the leadership center for the new specialty care business unit.

http://www.thedeal.com/dealscape/200...t_and_more.php
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Old 11-09-2009, 07:52 AM
 
Location: England.
1,287 posts, read 3,316,841 times
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Probably the same everywhere. Pfizer have stopped manufacturing in my part of England, and various mergers have seen several large plants and companies disappear. It's the nature of the business; well paid if you can get in, but very incestuous with everyone knowing everyone, and big companies selling on materials to their rivals at ever inflated prices. Nice work if you can get it.
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Old 11-09-2009, 09:27 AM
 
Location: NJ
23,408 posts, read 17,088,054 times
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Default pharma on the run

Jobs from manufacturing went to Puerto Rico, Medical review, programming, IT, DBA ended up in India and China under the guise of globalization, tax relief.

Failure of offshore strategies are covered with creative statistics and 24/7 coverage by US employees. Pharma has set sail down the river of Denial.

Pharma suffers from the cyclic re-shuffling of stale ideas reconstituted from rejected management who play for teams in the pharma league. "Progress" appears to take on a linear path but in reality the tight cyclic pathways become elongated in eliptical orbits that appear to represent progress. Still the ideas circulate in a predictable orbit where the journey ends at the starting point.

The business goals become secondary to employee survival skills in a workplace that accumulates no lessons in a world where a new dawn is created with each regime change.

The saddest part is what could be realized from companies with the human resource and financial capacity to go far beyond the steady level of mediocrity that has produced tremendous research and life saving products.

A J&J vp said in response to a Belgan partner in an open meeting, "J&J is not an American company. It is a global company that happens to be headquartered in New Brunswick, NJ."

That would be news to the shareholders.

NJ will not be NJ if pharma goes away.
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Old 11-09-2009, 09:31 AM
 
195 posts, read 490,633 times
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Quote:
Originally Posted by Kracer View Post

NJ will not be NJ if pharma goes away.
It's on it's way out. Roche recently moved their HQ from Nutley to California.
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Old 11-09-2009, 11:28 AM
 
195 posts, read 490,633 times
Reputation: 74
Pfizer will close N.J. research center as part of major consolidation

Pfizer will close N.J. research center as part of major consolidation | New Jersey Business - - NJ.com

Just weeks after completing its acquisition of Wyeth, Pfizer said this morning it will consolidate its far-flung research and development activity to five main campuses. The strategy will result in the closing of six locations including Wyeth’s Princeton research center, which represented the heart of the company’s discovery efforts on Alzheimer’s disease.

The work being done at the center, which is actually located in South Brunswick, will be relocated to Pfizer’s major research campus in Groton, Conn. The relocation is planned to go into effect next year.

“On the one hand, New Jersey will continue to be an important area for Pfizer, but when it comes to research and development, we have decided to exit our presence,’’ said Mikael Dolsten, president of BioTherapeutics Research and Development at Pfizer.

The consolidation will shrink the drug maker’s research footprint from 20 locations to five campuses, with nine specialized laboratories. In addition to New Jersey, Pfizer will close operations in New York, North Carolina, including facilities in Research Triangle Park and the United Kingdom.
Employees at the affected locations were informed of the company’s decision yesterday morning in face-to-face interviews. Roughly 450 people work at Wyeth’s former Princeton research center. The facility also does animal health research.

“We’re trying to create a structure that will be efficient and focused on fewer geographies,’’ Dolsten said during a telephone interview this morning.

“These are difficult decisions,’’ he said, “but we’re very pleased, we’ve been able to move fast. We think that will allow the company to focus on moving the new products forward.’’

Last month, Pfizer said it would keep Wyeth’s former world headquarters in Madison. The campus will be known collectively as “The Leadership Center for Pfizer Diversified Businesses.’’

The name reflects the variety of businesses that will be located on the campus, including animal health as well as nutrition and consumer products -- divisions the company gained from Wyeth.
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