Insmed, Alnylam and others make Science’s list of top 20 biopharma employers

East coast biotech and pharma companies once again took the top four spots on Science’s list of top 20 industry employers this year, headed by Insmed for the second year in a row.

Alnylam, Regeneron and Incyte followed, with the Swiss Syngenta Group ranking fifth, according to Science. The companies were chosen by more than 6,200 survey respondents, more than half of whom work in R&D.

The news comes as the industry’s reputation is once again on a downward slide. Biopharma’s second-quarter reputation score was the lowest it’s been since the end of 2020, according to corporate reputation monitor RepTrak. The pharmaceuticals, biotech and life sciences category fell almost three points (2.9) between the first and second quarter of 2022, with a one-point drop historically resulting in a 4% to 5% drop in support.

Respondents cited innovation, respect and social responsibility as some of the top qualities shared by this year’s winners. So what does that mean?

Will Lewis

At New Jersey-based Insmed, CEO Will Lewis asked employees to define what kind of company culture they wanted to build. As a result, they’ve instituted more relaxed rules around vacation, a designated dog-friendly wing of the office, and what he jokingly referred to as a “no jerk policy.”

“They came up with these different values, collaboration, accountability, passion, respect, and integrity,” he said. “The most important thing about it, I think, is that it gives people the space, the oxygen to go and take risks and be creative and try and sometimes fail.”

There’s also been a rise in pharma environmental, social and governance (ESG) efforts over the last couple years, as companies aim to be more transparent about their goals and progress. Morningstar recently estimated more than $500 billion invested in ESG-related funds last year, representing a 55% year-over-year growth in ESG assets under management.

“ESG has picked up in tension level and formality now across not just biotech, but generally,” Lewis said.

The chief executive noted that Insmed has kicked off a formal diversity, equity and inclusion program, and recently had more than 500 employees participate in a “global day of good,” when staffers got the day off to do volunteer work.

Pushkal Garg

At Cambridge, MA-based Alnylam, CMO Pushkal Garg said “openness” is the key — and support for employees.

“We pursue excellence and that’s through scientific debate and discussion, and hopefully a safe environment for people to be able to voice different points of view,” he said. “We have a number of employee resource networks that help people make sure that this feels like a truly inclusive environment where people can bring their authentic selves to work.”

In addition to fostering a hybrid work environment post-pandemic and holding community service days, the company recently offered an inflation relief reimbursement program, in which employees could access $2,000 for use on utilities, groceries, gas payments, and other expenses, Garg said.

“Biotech is a knowledge-based industry, and so much of what you’re recruiting for is that capability. And I like to say that in our business, having that great background, that great scientific acumen is necessary but not sufficient,” Lewis said. “It really comes down to the culture.”

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