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February 6, 2006
J&J Shakes Things Up
Well, as one of my readers noted in a comment on Friday, Johnson and Johnson seems to be doing a bit of restructuring in their drug discovery departments. I haven't seen a press release on this from the company yet, and I don't know if they're required to put one out, but it's newsworthy to people like me. Word starting going around at other companies during that working day, and more details have come out since then.
It appears that they're going to shrink their big Raritan, NJ site, at least as far as research is concerned, and consolidate things more in Spring House, PA. If my sources are correct, though, there are several hundred positions that are going to disappear in the process. I should emphasize that I don't have all the details, but that's what it's sounding like.
This is a bit unnerving, because J&J wasn't on anyone's list of companies that were having trouble. It's true that they don't have any of the huge multibillion-dollar drugs that everyone hears about, but they've always seemed like a pretty solid organization. Their presence in the medical-devices market gives them a useful non-pharma revenue stream, although the recent Guidant wrangling shows that that's not exactly a quiet, restful business, either.
Anyone with more information is welcome to add it in the comments section to this post. I hope that the folks affected will be able to land on their feet.
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