Page 20 - midJersey Business - March 2015

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REPORT FROM THE CENTER

The State of the Pharmaceutical Industry
Many top medicinal companies are located in New Jersey
by Jefrey Richardson

he pharmaceutical economies (China, South Korea, Rus- worldwide are located in the Northeast,

industry is one of the sia, and Singapore) have carried forth speciically in New Jersey. Businesses
most lucrative and profound growth to the pharmaceutical such as J&J, Merck, Sanoi, Ranbaxy

robust industries
industry as healthcare operations have Inc., and Dr. Reddy’s are within state
in the entire world. rapidly developed in each respective borders. Pizer bases its operations in

The industry is nation. In the coming years, aggregate nearby New York City. The presence of
characterized by the pharmaceutical sales will approach $1 these corporations has brought substan-

prevalence of numer- trillion worldwide.
tial economic beneits and encouraging
ous conglomerates,
While patent expirations are on the progress to the area.

such as Johnson & horizon, several signiicant medicinal Bristol Myers-Squibb is one of the
TJohnson, Merck, Bristol Myers-Squibb, companies possess record levels of avail- largest private employers in Middlesex

Pfizer, and Bayer.
able cash.1 This has foreshadowed a heavy and Mercer Counties. Recently, Dr.
These companies produce essential investment into research and develop- Reddy’s Laboratories shifted its local op-

medicines and other healthcare products ment (R&D) and a focus on discovering erations to Princeton, adjacent to the of-
which “extend and enhance” the lives of the next blockbuster drug.The pharma- ices of Ranbaxy. This will bring further
2
millions around the globe. The United ceutical industry has circumvented recent employment opportunities and economic
States comprises a majority of the phar- economic recessions, domestically and progress to the area.

maceutical market as obesity, diabetes, internationally. Proven to be resilient,
To evade risks, maximize proits,

and cardiovascular diseases are wide- the future of top medicinal companies expand markets, and contain costs,
spread in American society.
appears to be optimistic.
several pharmaceutical companies have

More recently, many emerging market
Many of the top medicinal companies
developed key partnerships with more

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