Dr. Reddy’s Laboratories (DRL) has announced plans to establish a research and development centre in Princeton, New Jersey.
DRL has entered into two lease agreements with National Business Parks for a 75,500 sq. ft. office facility and 31,000 sq. ft. office/lab. The relocation to the first facility, after renovations, is expected to be completed by the end of summer, and the new North American headquarters will house generics, biologics, pharma services and active ingredients (PSAI) and proprietary product businesses in addition to corporate support functions within North America.
The new facility is expected to employ over 300 people. Likewise, the lab facility will be redesigned to accommodate DRL’s product development and analytical laboratory requirements.
“The relocation will allow Dr. Reddy’s to tap into local talent which will be instrumental in the long-term growth,” DRL Chairman and CEO G. V. Prasad said.