Highlighting New Jersey’s Pharmaceutical Industry
With 40 pharmaceutical companies in NJ, the industry is paramount to our state’s economic status and employment rate. It’s also home to 14 of the world’s 20 largest pharmaceutical companies. Undoubtedly, the Garden State has continued to take steps to remain the “medicine chest” of the world.
Pharmaceutical Industry: New Jersey Statistics
According to this study of New Jersey’s Life Sciences Industry by the New Jersey Department of Labor & Workforce Development, New Jersey’s life sciences sector:
- Averaged 76,430 or 2.2% of all private-sector workers in the state (nationally, the proportion was 1.2%)
- The pharmaceuticals component accounted for 33,480 jobs or 43.8% of the life sciences industry sector employment
- Paid over $12.4 billion in 2019 annual payrolls; 5.3 percent of the state’s total wages
- The average annual wage for the pharmaceuticals component was $138,340
- Increased employment over five years by 3.6%, with an expected annual average of job openings to be nearly 50,000 across the life sciences sector
Where to Work in Pharmaceuticals in New Jersey
With so many pharmaceutical companies in NJ, many out-of-state residents flock to the state for employment opportunities. In particular, Morris County attracts top talent from within New Jersey and outside state lines. As the epicenter of New Jersey’s biotechnology industry, it has emerged as a nationally recognized life sciences hub.
Here are the top nine pharmaceutical companies located in Morris County:
- Allergan – Madison, NJ
- Alvogen – Montville, NJ
- Bayer – Hanover, NJ
- Euroimmun US – Mountain Lakes, NJ
- Ferring Pharmaceuticals – Parsippany, NJ
- LEO Pharma – Madison, NJ
- Novartis – Morris Plains, East Hanover, and Morristown, NJ
- Pfizer – Parsippany, NJ
- Lonza Inc. – Morris Township, NJ
How the Morris County EDC Helps Pharmaceutical Companies and Employees
The Morris County Economic Development Corporation (EDC) offers substantial business, real estate, work-life, and residential support to companies and employees in Morris County, New Jersey. Our membership, events, and business resources are available to Morris County business owners and residents to provide work and life benefits. To learn more about how we can help you with employment in New Jersey’s thriving pharmaceutical industry, book an appointment with a team member today.