The Boston Biotechs That Are Expanding Their Employment Bases the Fastest
April 16, 2015
By Alex Keown, BioSpace.com Breaking News Staff
BOSTON – It’s no secret that the greater Boston area is experiencing a boom in the biotech and pharmaceutical industries, as more companies, such as IBM’s new Watson Health Unit, locate their headquarters and satellite offices to the area.
While the number of open positions may not be as high as those in other industries, some biotech companies are expanding their employee base. The Boston Business Journal examined 10 companies in the greater Boston area that have been using some of their revenues and financial backing to add to their roster. The Journal split the companies into two categories—companies with more than 100 employees and those with 10 to 99 employees. Additionally the Journal included the rate of employment growth in their listing, which is below:
Biotechs employing more than 100:
1. Synageva BioPharma , Cambridge: 64 percent growth to 282 employees
2. bluebird bio , Cambridge: 64 percent growth to 143 employees
3. Alnylam Pharmaceuticals , Cambridge: 55 percent growth to 256 employees
4. Sarepta Therapeutics , Cambridge: 40 percent growth to 204 employees
5. Aegerion Pharmaceuticals, Inc. , Cambridge: 36 percent growth to 295 employees
Biotechs with 10-99 employees:
1. Idera Pharmaceuticals, Inc. , Cambridge: 150 percent growth to 45 employees
2. Radius Health , Waltham: 150 percent growth to 25 employees
3. Karyopharm Therapeutics , Newton: 129 percent growth to 71 employees
4. Dicerna Pharmaceuticals , Cambridge: 91 percent growth to 42 employees
5. Flexion Therapeutics , Burlington: 81 percent growth to 81 employees
One of the reasons for the greater Boston area becoming such a major hub in the biotech and pharmaceutical industries is the plethora of research universities in the area. Boston also has one of the highest educated workforces in the nation. Not only are smaller companies calling the Boston area home, but many larger and established pharmaceutical companies, such as Pfizer Inc. , GlaxoSmithKline , Takeda Pharmaceuticals , Sanofi, Biogen-Idec and Novartis AG have presences in the city. The close proximity of so many pharmaceutical and university laboratories provides researchers and scientists easy access to clinical studies and building partnerships between companies.
“It is much easier to have collaborative relationships when you can visit each other’s labs and have face to face meetings easily,” Ann Taylor, Novartis Global Head of the Program Office, told BioSpace last summer. “By having close proximity, it is easier to negotiate feasibility with the academic institutions for clinical trial access. Many of us came to Novartis (NVS) from the local institutions so contacts and relationships have been maintained both through science and recreational activities.”
With smaller companies being surrounded by the pharma giants, it also makes acquisitions easier for the big companies. Last summer The Boston Globe highlighted a number of smaller companies acquired by larger entities, including Merck & Co. ’s $4 billion acquisition of ViroPharma Incorporated , which was working on a hepatitis C drug.
According to the Massachusetts Biotechnology Council, which makes its home in Cambridge, Mass., the heart of the state’s biotech industry, the biotech and pharmaceutical presence in the state grew by 41 percent between 2004 and 2013. Across the state the industry employed 57,642 in 2013, the most recent year with complete data.
Recent growth in the Boston area includes IBM’s new health unit, which will employ 2,000, as well as GSK’s new innovation center in Boston.
Later this month biotech job seekers will have a chance to float their resumes in the Boston-market waters during the Spring Genetown Talent Connect set for April 21. During the event, job seekers will have the chance to network with representatives from multiple companies, including Acorda, Integrated Project Management, Kelly Scientific Resources, NITTO DENKO Avecia and Sanford-Burnham Medical Research Institute. There are numerous positions that could be filled during this expo. Kelly Scientific Resources is looking to fill 48 spots in its Boston site. Acorda is looking to fill five spots and Sanford-Burnham Medical Research Institute has eight positions. Preregistration is required.
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