The pharmaceutical industry is being hit hard by the ailing economy. A survey issued by the Healthcare Institute of New Jersey this past week revealed that the industry was growing and companies had increased spending on research and development. However, that same report also stated that the industry lost 600 jobs.

Experts say the employment numbers for the industry are just going to get worse.

A few companies have begun layoffs. Abbott Laboratories plans to close its manufacturing plant in Whippany, where 134 people work, by the end of the year. Bayer announced plans to lay off 6,100 jobs worldwide through 2009. Johnson & Johnson laid off 350 workers after acquiring Pfizer's consumer products division in Morris Plains a little more than a year ago.

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