In the current economic situation with rising interest rates, inflation & layoffs, I just want to gather thoughts on how recession proof is the Biotech / Pharma industry. Talking about large Biotech specifically ( Roche, Amgen, J&J, Gilead...) #healthcare #layoffs #recession
Seems like "laying low" in Big Biotech till 2024 is a safe bet in the current situation.
Depends what part of biotech you work in. Non-essential functions like marketing or IT support is exactly like in tech. First on the chopping block. You’re probably pretty secure in R&D and engineering unless the company completely gives up on a treatment domain or a site.
Large pharmas are relatively safe. I've never seen giant layoffs more than 8-10% of head count. Small biotechs have gotten clobbered recently (e.g. Taysha).
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Established biotech with a diverse pipeline will generally be ok. This excludes sales based roles which are often cut due to drug demand. Honestly these orgs are so bloated…they should layoff dead weight but they don’t.