Jones Lang LaSalle
N.J. adds pharma jobs in '05
TRENTON (AP) -- New Jersey's drug and medical technology industry added a modest number of jobs last year, reversing a trend of cutting workers and consolidating operations, according to a survey released Monday by an industry group.
The 25 members of the HealthCare Institute of New Jersey, which commissioned the survey, employed 60,556 people last year, up 282 jobs from the 60,274 industry workers in the state in 2004, but down from 63,447 in 2003.
The companies' total payroll also increased last year, to $7 billion from $6.6 billion.
The 10th survey of the Hillside-based trade group's members, conducted by the Deloitte consulting firm, found the average salary for industry workers in the state was $93,948, up 6.7 percent from 2004. When health and other benefits are added in, compensation averaged $115,701, up 5.2 percent from 2004.
"The overall economic impact of the state's pharmaceutical and medical technology industry topped $27 billion," the institute's president, Bob Franks, said in a statement. "Through our direct payroll, our R&D expenditures, our payments to vendors, and from what we have contributed in taxes and philanthropy, the industry is having a pronounced effect on New Jersey."
The survey showed R&D spending totaled $7.5 billion, a 17 percent increase over the $6.4 billion reported in 2004.
Members reported nearly 900 pharmaceutical products in development and 70 new drug applications submitted, creating what the survey called "a robust pipeline." Additionally, 3,690 studies and clinical trials were in progress, the survey showed.
Also, 131 new medical product applications were submitted to the Food and Drug Administration in 2005, and 55 improvements to existing medical devices were approved.
The survey also showed the industry's corporate giving to charity topped $4.4 billion last year, with $152 million going directly to state-based causes.
On the Net: http://www.hinj.org
N.J. adds pharma jobs in '05
TRENTON (AP) -- New Jersey's drug and medical technology industry added a modest number of jobs last year, reversing a trend of cutting workers and consolidating operations, according to a survey released Monday by an industry group.
The 25 members of the HealthCare Institute of New Jersey, which commissioned the survey, employed 60,556 people last year, up 282 jobs from the 60,274 industry workers in the state in 2004, but down from 63,447 in 2003.
The companies' total payroll also increased last year, to $7 billion from $6.6 billion.
The 10th survey of the Hillside-based trade group's members, conducted by the Deloitte consulting firm, found the average salary for industry workers in the state was $93,948, up 6.7 percent from 2004. When health and other benefits are added in, compensation averaged $115,701, up 5.2 percent from 2004.
"The overall economic impact of the state's pharmaceutical and medical technology industry topped $27 billion," the institute's president, Bob Franks, said in a statement. "Through our direct payroll, our R&D expenditures, our payments to vendors, and from what we have contributed in taxes and philanthropy, the industry is having a pronounced effect on New Jersey."
The survey showed R&D spending totaled $7.5 billion, a 17 percent increase over the $6.4 billion reported in 2004.
Members reported nearly 900 pharmaceutical products in development and 70 new drug applications submitted, creating what the survey called "a robust pipeline." Additionally, 3,690 studies and clinical trials were in progress, the survey showed.
Also, 131 new medical product applications were submitted to the Food and Drug Administration in 2005, and 55 improvements to existing medical devices were approved.
The survey also showed the industry's corporate giving to charity topped $4.4 billion last year, with $152 million going directly to state-based causes.
On the Net: http://www.hinj.org
posted by Jones Lang LaSalle NJ News Blog at 9:52 AM
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