Teva To Move US Headquarters to New JerseyBy
Teva Pharmaceuticals USA, the North American arm of Teva Pharmaceutical Industries, is planning to relocate its US headquarters from North Wales, Pennsylvania to Parsippany-Troy Hills, New Jersey. The move will support more than 1,000 jobs in New Jersey, including the transfer and creation of more than 800 positions, according to Teva.
Teva says the move will consolidate its operations into a more centralized location to drive efficiencies. The company plans to expand its existing Parsippany-Troy Hills location to nearly 350,000 square feet, transfer and create 843 jobs, and retain 232 existing positions.
“While Teva will retain a significant presence in Pennsylvania, reducing the number of sites supports our drive to continue to improve productivity and efficiencies,” said Brendan O’Grady, Executive Vice President and Head of North America Commercial, Teva Pharmaceuticals in a July 5, 2018 statement by the Office of Phil Murphy, New Jersey’s governor. “We’re pleased to expand our presence in New Jersey, having closer proximity to a vibrant business hub and a dynamic life sciences environment—all while increasing jobs and preserving many existing roles.”
Teva Pharmaceutical Industries has a global product portfolio of more than 1,800 molecules and a direct presence in 60 countries, including 30 locations across the US and its territories.