Teva Pharmaceuticals Expands Its Local Presence, Buys Three More Buildings in West Chester

By
Teva
Teva Pharmaceuticals USA expanded its local presence last week by buying three more buildings in West Chester, adjacent to the three it already owns.

Teva Pharmaceuticals USA expanded its local presence last week by buying three more buildings in West Chester, adjacent to the three it already owns, write John George and Natalie Kostelni for the Philadelphia Business Journal.

The move will help the pharmaceutical manufacturer to firmly establish a research and development campus in Chester County.

By the end of the year, 650 Teva employees will be based in West Chester. This will include teams working on product and device research and development, regulatory affairs, and medical affairs, as well as a variety of support functions.

The company will not be hiring for these positions. Instead, Teva will be consolidating positions at other locations on its West Chester campus. These will be largely focused on biologics.

“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,” said Teva senior director Mehran Yazdanian, head of the West Chester site.

And while the company did not disclose the purchase price of the buildings, county property records show the seller, Liberty Property Trust, was paid $30 million.

Read more about Teva Pharmaceuticals in the Philadelphia Business Journal here.

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