Supplier News Breaks Archives
Dr. Reddy's to relocate North American HQ
April 9th, 2013
HYDERABAD, India – Dr. Reddy’s Laboratories plans to relocate its North America headquarters and establish a research and development center in Princeton, N.J.
The India-based pharmaceutical company said Tuesday that it has entered into two lease agreements for a 75,500-square-foot office facility and a 31,000-square-foot office/lab.
Dr. Reddy's said it expects to relocate to the office facility at 107 College Road East by the end of this summer, after the renovations to the facility are completed.
The new North America headquarters will house the company's generics, biologics, PSAI and proprietary product businesses as well as the corporate support functions for North America. It is projected to employ over 300 people, as the U.S. businesses continue to expand in the coming years, Dr. Reddy's said.
The lab facility at 303 College Road East is slated to undergo a redesign to accommodate Dr. Reddy's product development and analytical laboratory requirements. About 20,000 square feet of space will be part of the initial phase of redesign. The lab facility is also expected to be completed by late summer to early fall and employ 35 scientists, chemists and support personal.
"The relocation will allow Dr. Reddy's to tap into local talent which will be instrumental in our long-term growth," stated GV Prasad, chairman and chief executive officer of Dr. Reddy's. "This R&D center, along with centers in Cambridge [U.K.] and Leiden [the Netherlands] establishes our presence within some of the leading innovation centers of the world."