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An annual survey conducted by Science magazine and the American Association has identified the 2008 top twenty life sciences employers in the world. The rankings were based on a company’s leadership, stability, social responsibility and treatment of its employees. Six of the top 10— Genentech, Gilead Sciences, Genzyme Corp., Schering-Plough Corp., Gilead Sciences are based in the US whereas the remaining four—Boehringer Ingelheim, Roche Pharmaceuticals, EMD Serono, and Millennium are headquartered outside of the US. For the first time, eight of the top 20 are located outside the United States.

In case you were wondering, Genentech was ranked number 1. This is the fifth time out of the past 6 years that the San-Francisco based company made it to the number one slot (it fell to second last year). Another notable is Massachusetts-based Genzyme which made it to the number 3 spot (out of 575 companies) for the second consecutive year. Surprisingly, Monsanto, the company that makes genetically modified seed crops, was number 2—this despite all of the negative press about genetically modified foods. Let see whether or not Genentech can retain its number 1 ranking after the Roche takeover of the company is completed.

Until next time....

Good Luck and Good Job Hunting!!!!!!!

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Bristol-Myers Squibb (BMS) announced late yesterday that it intends to purchase Princeton, NJ-based Medarex for $2.1 billion. BMS and Medarex were working collaboratively to develop a monoclonal antibody called Ipilimumab as a treatment for late stage melanoma.

The acquisition represents BMS’s public commitment to transform itself into a “next generation pharmaceutical company” with both pharmaceutical and biotechnology products in its arsenal. Last year, BMS bought Kosan Biosciences, Inc a California-based biotechnology company developing novel cancer treatments. Also, as you may recall, BMS lost ImClone to Lilly in a bidding war over Erbitux—a monoclonal antibody-based colorectal cancer treatment that was co-marketed by BMS. 

Medarex was one of the last independent, public, late stage monoclonal antibody development companies in the biotechnology industry. Many of its competitors, like ImClone and Cambridge Antibody Technologies, had already been acquired by big pharma and I was wondering when Medarex would be acquired. I have always held Medarex in high regard and it is a solid and well position company. To that end, I recommended that my mother purchase Medarex stock several years ago telling her that I thought it had a huge upside. Not surprisingly, the stock has been soaring since the announcement; so much so that my mother called me today to tell me how smart I was—go figure.

It is not clear, at present, what effect, if any, the Medarex acquisition will have on the employment situation in New Jersey. Although BMS is headquartered in NYC, it has two large sites in New Jersey, one in Lawrenceville and the other in Plainsboro. As mentioned above Medarex is based in Princeton, NJ. BMS has been steadily downsizing over the past three years and I suspect that there may be more layoffs after the Medarex deal closes.  If there are layoffs, more are likely to occur on the Medarex side of the business.

While I have been critical of some of BMS’ strategic moves in the past, I think the Medarex acquisition is an outstanding one and BMS will likely benefit from it!

Until next time...

Good Luck and Good Job Hunting!!!

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Back in the day—when the economy was sound and jobs were plentiful—an adequately written resume with a sprinkling of keywords and strategically-placed human resources clichés were sufficient to get your foot in the door at most companies. However, in today’s troubled economy where unemployment is rampant, there are certain buzz words and phrases that no longer resonate with hiring managers. According to Liz Ryan, an experienced  corporate career advisor who writes for Yahoo Hot Jobs, the following phrases must never appear in a resume if you are a job seeker in today’s market. 

• Results-oriented professional
• Cross-functional teams
• More than [x] years of progressively responsible experience
• Superior (or excellent) communication skills
• Strong work ethic
• Met or exceeded expectations
• Proven track record of success
• Works well with all levels of staff
• Team player
• Bottom-line orientation

She contends (and rightfully so) if old and tired phrases (like the ones mentioned above) appear in you resume you run the risk of being marked as “uncreative and vocabulary challenged.” Further Ms. Ryan suggests that you “can make your resume more compelling and human-sounding by rooting out and replacing the boring corporate-speak phrases that litter it, and replacing them with human language— things that people like you or I would actually say.” 

This language change is being driven by the informal nature of social media and a growing emphasis on truthfulness and transparency in the business. Nevertheless, well written resumes—with or without buzz words or key phrases—have always been and remain the first step in the sometimes long and tedius process of landing a new job!

Until next time...

Good Luck and Good Job Hunting!!!!!!!

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I am frequently asked by life sciences PhDs whether an MBA would improve their chances of finding a job in industry. And, my response is always “maybe— because it depends. I don’t think that getting a traditional MBA really gives you that much of an edge especially if you are an established PhD looking for career advancement or change.  However, if you are a graduate student or postdoc who has already decided that academia is not for you, then getting a certificate or M.S. through an established graduate program in biotechnology (Georgetown University’s M.S. in biotechnology or The New York Center for Biotechnology's  Fundamentals of Bioscience Program) may increase the likelihood of winning a job in industry. This is because hiring managers recognize that in addition to a job candidate’s technical competency, they possess an understanding of the business aspects of the industry—something that is vital for scientists to be successful in the biotech biz.

Recognizing this, Rutgers University recently created a program that they call ‘a mini-MBA for the biopharmaceutical industry’. In contrast with traditional MBA or M.S. programs, the mini-MBA is a 12 week long, degree-granting program that was designed to familiarize students with the nuances and intricacies of the business aspects of the biopharmaceutical program. The good news is that they are actively recruiting students to fill the slots available in their inaugural class. The bad news is that it costs $4,995 to enroll. That said, it may be worth the time to check it out because—in the end—the investment may be worth it!

Until next time…

Good Luck and Good Job Hunting!!!!!

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FDA approvals of biopharmaceutical products have decreased in recent years. This includes recombinant proteins and monoclonal antibodies and cancer therapeutics. In the decade from 1996-2005, an average of 16.6 new drugs were approved each year. In marked contrast, there were only 11 and 12 new medications approved in 2006 and 2007, respectively.

Last year was an unusually unproductive year for the pharmaceutical and biotechnology industry. The combined sales for products approved in 2007 are projected to be less than $1.0 billion dollars–the benchmark for drugs that receives blockbuster status. Further, most or the approved drugs were similar to ones that were previously approved (so called “me too” drugs) and none will significantly improve healthcare for large numbers of patients.  Finally, only two recombinant protein drugs were approved in 2007–a level more representative of the 1980s.

Most analysts agree that it is unclear why FDA approval of new drugs has decreased over the past few years and who, if anybody (FDA and/or industry), deserves the blame for the approval drop-off. Regulatory filings for a number of new products are either expected or currently pending. To that end, it is likely that there will be more new approvals in 2008 and 2009 as compared with previous years. To learn more about the drug approval conundrum please read this article recently written by Ronald A Radar.

The rate of new approvals must increase in order for the biopharmaceutical and pharmaceutical industries to remain economically healthy and viable. Industry and the FDA must work more closely with one another to continue to insure that the American public has ready access to innovative, safe and efficacious, new biopharmaceutical and pharmaceutical products. 

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