Life Sciences 2020: The Future is Here

MARKET SUMMARY

17.7 MSF MARKET SQUARE FOOTAGE AVERAGE RENT (PER SF) $22.86 15K TOTAL EMPLOYEES +63% TOTAL EMPLOYEES SINCE 2010 14.3% VACANCY FAST LAB STATS

• Big Pharma mergers and consolidations have continued both nationally and locally, including Bristol Myers Squibb’s recent acquisition of Celgene. As a result, New Jersey has recorded an increase in the number of small and mid-tier pharma and biotech companies in recent years, including some spinoffs from larger life sciences firms. • The state has had organic growth throughout the years from these companies including Celgene, Insmed, and more recently PTC Therapeutics, which have been able to attract talent from those Big Pharma corporations that have downsized. • The highly educated labor force in the area has been a key factor in the industry’s attraction to the area. Also, the presence of numerous medical schools, research universities and top-rated hospitals has kept the Garden State on the radar. The state is home to more than 27,000 life sciences graduates annually. • The lab/R&D market in New Jersey is anticipated to tighten in the near future as small and mid-sized biotech and pharma occupiers continue to expand and relocate within the state, specifically in the key submarkets of the greater Princeton Area, I-78 Corridor and Morris County. However, the number of proposed new developments for R&D facilities are limited. • The state has been focused on the growth of the R&D and innovation-based sector, which should bode well for the life sciences industry in general as firms look to either grow, relocate into or move within New Jersey.

NEW JERSEY

TOP LIFE SCIENCES COMPANIES

LIFE SCIENCES TALENT POOL: 28,473

COMPANY

TYPE

Number of Persons 25,500 26,000 26,500 27,000 27,500 28,000 28,500 29,000 29,500 30,000 30,500

Bayer

Big Pharma

Bristol Myers Squibb

Big Pharma

Celgene

Biotech

Eli Lilly

Big Pharma

GlaxoSmithKline

Big Pharma

Average Annual Growth Rate 2001-2018: 0.6%

Johnson & Johnson

Big Pharma

Merck

Big Pharma

Novartis

Big Pharma

2001 2004 2007 2010 2013 2016 2019

Source: EMSI

Pfizer

Big Pharma

Sanofi

Big Pharma

TOP NIH-FUNDED INSTITUTIONS, 2014-2018

RUTGERS, THE STATE UNIV OF N.J. $293M

PRINCETON UNIVERSITY $227M

RBHS-NEW JERSEY MEDICAL SCHOOL $217M

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