Teva to move US headquarters to New Jersey 10th July 2018
Teva Pharmaceuticals USA will move its US headquarters to Parsippany-Troy Hills, NJ, supporting more than 1,000 high-wage jobs in New Jersey, including the transfer and creation of more than 800 positions. Teva, a leading pharmaceutical company headquartered globally in Israel, had also considered several other locations to house its US headquarters and commercial operations.
“The presence of global life sciences companies like Teva Pharmaceuticals is critical to New Jersey’s ability to strengthen a thriving innovation ecosystem,” said Governor Murphy. “We are thrilled to expand our welcome to Teva, and its more than 1,000 employees, in the Garden State – the place to be for the world’s most competitive life sciences companies.”
Currently headquartered in North Wales, Pennsylvania, Teva sought to consolidate its operations into a more centralized location to drive efficiencies and maximize the advantage of being part of a thriving life sciences cluster. The company, which will expand its existing Parsippany-Troy Hills location to nearly 350,000 square feet, expects to transfer and create 843 jobs and retain 232 existing positions. The median annual wage associated with the more than 1,000 positions is $128,073.
“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. “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.”