I would think there’s a similar impact on biotech/pharma which relies on research finding candidates to take into development. These companies can burn a whole lotta money and I think their job market has been brittle over the last year as well. These are ms/phd/md kinds of jobs for the most part. Sudden upturns in laoyff or surrendering companies would confirm the article.
This isn’t really an issue in biotech since companies don’t have any revenue until late in their lives. Ie if I’m doing discovery work for a drug candidate today, it won’t generate revenue for 7+ years. So when if I have to amortize those costs over 5 years, that process will be complete by the time the project generates revenue.
I can’t speak to the pharma side as much, but since the 174 issue is most painful for companies with liquidity issues, I doubt it has a huge impact on them.
Yes, lots of layoffs in biotech recently (Recursion is a big recent one, although some of that is post-merger restructuring after the Ex Scientia acquisition.)
