The biopharma’s layoff woes continue to make headlines, but the news is not all negative. To get a clearer picture, we gathered data on layoffs, new plant announcements and companies hiring, including specific coordinates for locations down to the address level, when possible. After clustering the data, we identified the top- and worst-performing global hubs.…
Biotech market projection for 2024 could point to more sector stability
The biotech sector could see a period of relative stability, according to a time-series analysis of the NASDAQ Biotech Index. In recent years, however, performance of the NBI has had little bearing on the rate of layoffs in the pharma and biotech sectors. A statistical analysis of the relationship between the NBI performance and the…
Biotech layoffs in 2024: Identifying common threads among affected companies
Companies across the industry have contributed to biotech layoffs in early 2024, driven by factors ranging from operational restructuring to strategic pivots and clinical trial failures, with major hubs like California and Massachusetts bearing the brunt of the impact. A recent analysis assembled with the help a machine learning technique known as clustering reveals a pattern of job…