United States
While industry leaders are unsure whether the U.S. or China will prevail, they are largely united in the belief that Europe is lagging behind.
Starting next year, GSK plans to demolish existing buildings and construct new facilities to support clinical and commercial supply. The investment will create more than 300 new jobs over the next five years, Pennsylvania state officials said.
Biotechs developing therapeutics to treat rare diseases include two that received FDA approvals this year for drugs to treat spinal muscular atrophy and Alexander disease.
Big Pharma companies including Bristol Myers Squibb, Johnson & Johnson and Novartis are among those that made or planned layoffs in Q3. Those cuts could affect over 1,800 employees, with New Jersey the hardest-hit state.
The investment will equip Bayer to make oncology, cardiovascular and renal care ingredients and drugs.
Adecto Pharmaceuticals has ceased operations, while Aviceda Therapeutics is in the process of winding down.
Foghorn Therapeutics and Eli Lilly teamed up in 2021 to develop and commercialize oncology products. The biotech’s layoffs will leave the company with 65 employees as it refocuses on its proprietary portfolio programs.
Of the 38 companies receiving incentives, 31 will expand outside of Boston and Cambridge. Still, Boston and Cambridge are each expected to gain over 200 jobs. Tax incentive award recipients include AstraZeneca, Bristol Myers Squibb and Insulet.
Biotechs that announced series B financing this year and are expanding their workforces include one that raised $2.1 billion and has partnerships with Eli Lilly, Johnson & Johnson and Novartis.
As pharmas reshore manufacturing, they’re squaring off with each other to find the right personnel to staff up their plants. That task is challenging given the limited talent pool, difficulty filling critical roles and, in some cases, competition from data centers.
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