Dr. Reddy's to Relocate North America HQ
Dr. Reddy's Laboratories has announced plans to relocate its North America headquarters and establish a R&D facility in Princeton, New Jersey.
Dr. Reddy’s Laboratories announced plans to relocate its North America headquarters and establish a R&D facility in Princeton, New Jersey, according to an Apr. 9, 2013, press release. Dr. Reddy’s, represented by Jones Lang LaSalle, has entered into two lease agreements for a 75,500-ft2 office facility and a 31,000-ft2 office/laboratory at 107 College Road East and 303 College Road East, respectively, with National Business Parks.
The company anticipates relocation to the office facility at 107 College Road East by the end of the summer of 2013 after the completion of renovations. The new North America headquarters will house the company’s generics, biologics, PSAI, and proprietary product divisions, as well as the corporate support functions within North America. It is projected to employ 300+ employees.
The laboratory facility located at 303 College Road East will undergo a redesign to accommodate Dr. Reddy’s product development and analytical laboratory requirements. Approximately 20,000 ft2 of space will be part of the initial phase of redesign. The laboratory is also expected to be completed by late summer to early fall of 2013, and will employ 35 scientists, chemists, and support personnel.
“The relocation will allow Dr. Reddy's to tap into local talent which will be instrumental in our long term growth,” said G V Prasad, Chairman and CEO, Dr. Reddy’s. “This R&D center, along with centers in Cambridge (UK) and Leiden (Netherlands) establishes our presence within some of the leading innovation centers of the world."
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