New Jersey may not be the behemoth it once was in the chemical pharmaceutical industry, but neither is it the laggard it’s sometimes depicted as when it comes to biotech. In 2014, according to a study by EY, the consulting firm formerly known as Ernst and Young, it had 25 publicly traded biotech companies, a 9 percent increase over 2013 and fifth in the country behind San Francisco, New England, San Diego, and New York state.
It’s also important to note that the United States dominates the segment across the globe, with revenues of more than 300 percent of the rest of the major markets.
In terms of the rest of the United States, New Jersey pretty much ranks fourth — in annual revenues ($8.9 billion), market capitalization ($101 billion), and investment in research and development ($2.9 billion). It is third for net income ($1.4 billion).