Teva Pharmaceutical Industries Ltd. is moving its North American headquarters from North Wales, Montgomery County, to North Jersey, and taking hundreds of jobs with it.
The global generic drug manufacturer, based in Israel, said it plans to establish a new headquarters for Teva Pharmaceuticals USA in Parsippany-Troy Hills. Teva plans to expand its existing Parsippany-Troy Hills location, where the company has 232 employees, to nearly 350,000 square feet.
New Jersey Gov. Phil Murphy said the move to New Jersey will include the transfer and creation of more than 800 positions. The New Jersey Economic Development Authority has approved $40 million in performance-based tax credits, spread out over 10 years, for Teva to support its expansion project.
Find out more about the new facility at the Philadelphia Business Journal.
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