Related: The Boston Globe Lied About Biotech
And the LIES NEVER STOP!!!!
"Credit crunch? Not for everyone; Some life-sciences companies expanding" by Todd Wallack, Globe Staff | April 14, 2009
Despite the global credit crunch, a handful of large Bay State life-sciences companies say they are continuing to expand.
Yeah, they will save us!
Vertex Pharmaceuticals Inc., which is gearing up to market a highly anticipated drug to treat hepatitis C, plans to hire 200 to 300 new employees this year in Massachusetts. The company currently has at least 1,300 employees, including more than 1,000 at its Cambridge headquarters.
"We are relatively unaffected" by the recession, said chief executive Joshua Boger. "We raised almost $1 billion in the last 12 months in the midst of this capital crunch. We raised $320 million in February in the public market in two hours, so it is possible."
See: Where Your Health Care Dollar Goes
It Pays to Be a CEO
Vertex's Vortex
Vertex's Vertigo
Can you say looting, America?
Genzyme Corp.'s chief executive, Henri A. Termeer, said the Cambridge biotechnology giant plans to add 300 to 400 jobs this year, mostly in manufacturing, as demand continues to increase for its drugs. But in past years, Genzyme grew even faster. It has 11,200 employees, including nearly 4,500 in Massachusetts.
So which one is lying?
Related: It Pays to Be a CEO
Millennium Pharmaceuticals Inc., a unit of Japan's Takeda Pharmaceutical Co. that focuses on developing cancer drugs, plans to add 100 to 150 positions this year; it currently has 1,300 employees, mostly in Cambridge.
And just a week ago, EMD Serono Inc., the Rockland-based affiliate of German drug maker Merck KGaA, announced plans to open a Cam bridge research facility with 50 scientists. The company now has 800 employees in the state.
We are losing THOUSANDS OF JOBS and these guys are talking HUNDREDS!!!
Also see: U.S. Industry Still Wants H1-B Immigrants
Ain't that a kick in the head, Americans!
Many other companies are cutting back. The financial crisis has wreaked havoc with some smaller life-sciences companies that still need to raise money as they seek to develop drugs, medical devices, or other products.
More than a dozen life-sciences companies, including Oscient Pharmaceuticals Corp. in Waltham and Acusphere Inc. in Watertown, have slashed their workforces in recent months to conserve cash. And some are folding altogether, including Codon Devices Inc. in Cambridge.
And DOWN the MEMORY HOLE it goes!!!!
The Globe's got BIDNESS to PROMOTE!!!
Pearl Freier, a Cambridge headhunter for the life-sciences industry, said some companies are continuing to fill key jobs. But it's not enough to offset the legions of firms that are slashing payrolls, she said. "There are companies every week that are going under," said Freier, president of Cambridge BioPartners Inc. "It's a difficult time. I am flooded with candidates."
Many companies with products already on the market have done better. Termeer, rapping a wood table for luck, predicted Genzyme's sales will continue to show double-digit growth this year. And some, like Vertex, have been able to continue to raise money because they are relatively close to winning federal approval for drugs with enormous potential.
A number of firms are holding steady. Millipore Corp., a Billerica company that makes equipment for the life-sciences industry, said its employment will likely be flat or shrink slightly in Massachusetts. However, it's moving a manufacturing operation from Northern California to Danvers. The company has 5,900 employees, including 1,100 in Massachusetts.
"We see Massachusetts as a key site for us," said Millipore's chief executive, Martin Madaus. "We have a big research organization, and we plan to do more."
"Charges hurt Millipore profit. Millipore Corp., a maker of membranes for sterilizing and filtering antibiotics and beverages, said its fourth-quarter profit fell 26 percent on lower revenue and a series of charges. The Billerica company earned $33.3 million.... Millipore said its bioscience division helped offset a decline in revenue from its bioprocess division. For the full year, earnings were $145.8 million"
Thermo Fisher Scientific Inc., which sells laboratory equipment, said its Bay State employment is "expected to remain relatively stable" this year. The Waltham firm currently has 1,500 employees in the state.
See: It Pays to Be a CEO
Covidien Ltd. in Mansfield, which makes medical devices and other health products, doesn't anticipate any major changes in employment in Massachusetts this year, said a spokesman.
Charles River Laboratories Inc., the Wilmington company that breeds mice and rats for researchers, recently cut 3 percent of its workforce, including 50 jobs in Massachusetts, because of softer demand from drug companies.
I would SHUT THEM DOWN! Related: Willard's Hotel
Test your poisonous shit on yourselves, assholes!
Even so, chief executive James Foster said, the company plans to gradually expand, including doubling the size of its new Shrewsbury facility in the next three to five years and adding people at its headquarters. The company currently has 420 employees in Shrewsbury and 850 in Wilmington.
Still, some companies caution that hiring plans can change quickly. Two of the state's largest life-sciences companies, Biogen Idec Inc. and Boston Scientific Corp., declined to predict whether their staffing will change.
--more--"Oh, yeah, bout PRICE-GOUGING and OVERCHARGING Boston Scientific that only cares about your health:
"Boston Scientific must pay French fine" by Bloomberg News | April 9, 2009
PARIS - Boston Scientific Corp. and Medtronic Inc. lost a bid to overturn a French antitrust fine over claims the companies conspired with competitors to thwart a public bidding process at hospitals.....
--more--"
