Last year, Teva Pharmaceuticals signed a major lease on 400 Interpace Parkway in Parsippany, NJ.
WEST CHESTER, PA – Teva Pharmaceuticals USA, Inc. reports that the acquisition of three buildings on Brandywine Parkway has created a North American research and development campus here.
The company has acquired the 400, 500 and 600 Brandywine Parkways, which the company has leased since 2007. The new investments and the 100, 200 and 300 Brandywine Parkway that are already owned will expand the campus to around 314,000 square meters in West Chester.
The Philadelphia Business Journal reported, citing public records, that Teva Pharmaceuticals acquired the properties from the Liberty Property Trust for $ 30 million.
Teva, headquartered in Jerusalem, says the research and development campus further strengthens the company's presence in the United States. Operation of the complex is focused on Biologics, a central R&D platform on which the company continues to build for future growth.
"With our late-stage biologics research and development teams on a single campus, the company has created a one-stop shop for biologics development and clinical manufacturing," said Mehran Yazdanian, senior director of scientific F & D special strategies and operations worldwide R & D and construction manager. "From the cell bank to the syringe, our West Chester research and development campus is home to many of the North American-based research and development teams and processes that provide more biologic treatment options for patients and support Teva's global mission to improve life."
Teva's research and development campus in West Chester now houses clinical development and manufacturing processes for highly complex biological drugs developed by Teva.
The campus also includes laboratories that run advanced preclinical and clinical tests to ensure the safety and effectiveness of new drugs. By the end of 2019, Teva will have approximately 650 employees in West Chester, including teams involved in research and development of combination products and devices, regulatory affairs, medical affairs and support functions.
Teva employs approximately 7,000 people in manufacturing, trading, research and development, and administration across multiple locations in the United States.
In July 2018, Teva Pharmaceuticals USA signed a 345,000 square meter lease in three buildings at MCCBLUE, 400 Interpace Parkway in Parsippany, NJ.