Teva Pharmaceuticals USA Acquires Three Buildings in West Chester, PA
Its new holdings, along with 100, 200 and 300 Brandywine Parkway, which it already owned, increases its campus to approximately 314,000 square feet in West Chester.
WEST CHESTER, PA—Teva Pharmaceuticals USA, Inc. reports that by acquiring three buildings on Brandywine Parkway here, it has created a North America Research & Development campus.
The firm has acquired 400, 500 and 600 Brandywine Parkway, which the company had been leasing since 2007. Its new holdings, along with 100, 200 and 300 Brandywine Parkway, which it already owned, increases its campus to approximately 314,000 square feet in West Chester.
The Philadelphia Business Journal, citing public records, reported that Teva Pharmaceuticals acquired the properties from Liberty Property Trust for $30 million.
Teva, which is headquartered in Jerusalem, states the R&D campus further augments the company’s U.S. presence. The complex’s operations will be focused on biologics, a core R&D platform on which the company continues to build for future growth,
“With our late-stage biologics R&D development teams co-located on a single campus, the company has created a one-stop shop for biologics development and clinical manufacturing,” says Mehran Yazdanian, senior director, specialty R&D scientific strategy & operations, global R&D and site head. “From cell bank to syringe, our West Chester R&D campus is home to many of the North American-based R&D teams and processes that will bring more biologics treatment options to patients, and support Teva’s global mission to improve lives.”
Teva’s West Chester R&D campus now houses clinical development and manufacturing processes for highly complex biologic medicines developed by Teva.
The campus also includes laboratories where advanced preclinical and clinical testing is conducted to ensure the safety and effectiveness of new drugs. Approximately 650 employees will be based at Teva in West Chester by the end of 2019, including teams involved in combination product and device R&D, regulatory affairs, medical affairs and support functions.
Teva employs approximately 7,000 employees in multiple locations in the US in manufacturing, commercial, R&D and administrative functions.
In July 2018, Teva Pharmaceuticals USA signed a 345,000-square-foot-lease in three buildings at MCCBLUE, 400 Interpace Parkway in Parsippany, NJ.