Big pharma becomes a smaller employer while biotech booms

Big pharma employment dropped by 3% in the decade 2003-2013, allaying fears that industry consolidation and restructuring would lead to significantly reduced headcounts and payrolls, a new  jobs report published by EP Vantage (a part of Evaluate group) reveals.

The new report shows that, when it comes to pharmaceutical industry jobs, big biotech and specialty drugmakers are growing in significance, more than offsetting the loss of jobs in big pharma.

Headcount more than doubled over the last decade at companies with market capitalizations of more than $30 billion, but who are not traditionally considered big pharma. Some of those gains were the result of acquisitions – such as Canada’s Valeant Pharmaceuticals International (TSX: VRX) – but groups like Denmark’s Novo Nordisk (NOV: N), and USA-based Gilead Sciences (Nasdaq: GILD) and Regeneron (Nasdaq: REGN) have seen their staff double, triple, or even quadruple based primarily on organic growth, the report finds.