Dr Reddy’s Laboratories (DRL) plans to relocate their North America headquarters and establish a R&D centre in Princeton, New Jersey. DRL, represented by Jones Lang LaSalle, has entered into two lease agreements for a 75,500 sq ft office facility and a 31,000 sq ft office/lab at 107 College Road East and 303 College Road East respectively with National Business Parks.
DRL anticipates relocation to the office facility at 107 College Road East by the end of the summer of 2013 after the renovations to the facility are completed. The new North America headquarters will house the generics, biologics, PSAI and Proprietary Product businesses as well as the corporate support functions within North America. It is projected to employ 300 plus people.
The lab facility located at 303 College Road East will undergo a redesign to accommodate DRL’s product development and analytical laboratory requirements. Approximately 20,000 sq ft 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 of 2013 and will employ 35 scientists, chemists and support personal.
Commenting on the move, GV Prasad, Chairman and Chief Executive Officer, DRL said, “The relocation will allow DRL to tap into local talent which will be instrumental in our long-term growth. This R&D centre, along with centres in Cambridge (UK) and Leiden (Netherlands) establishes our presence within some of the leading innovation centres of the world.”
EP News Bureau – Mumbai
- Advertisement -
