Murphy, Teva Pharmaceuticals formalize NJ headquarters move

The Murphy administration and Teva Pharmaceuticals have “formalized” an agreement to move the company’s U.S. headquarters to Parsippany, a move that is expected to generate 843 jobs in the state and retain another 232 positions.The Murphy administration and Teva Pharmaceuticals have “formalized” an agreement to move the company’s U.S. headquarters to Parsippany, a move that is expected to generate 843 jobs in the state and retain another 232 positions.

Gov. Phil Murphy, at a Sunday ceremony at Teva’s global headquarters in Petach Tikva, Israel, made the announcement on day-six of his nine-day trade mission across Germany and Israel, aimed at strengthening economic ties between New Jersey and both countries.

“The presence of global life sciences companies like Teva is critical to our ability to strengthen our prosperous innovation ecosystem,” Murphy said in a prepared statement. “We’re excited to welcome Teva to the Garden State–the location to be for the world’s most competitive life sciences companies.”

Teva announced the move in July of this year, after it inked an agreement with the New Jersey Economic Development Authority for a 10-year, $40 million tax incentive.

“New Jersey offers Teva North America a value proposition of a unique biopharma cluster of universities and life sciences organizations in which Teva can build its future in North America—and today’s event is an important recognition of this milestone,” Brendan O’Grady, executive vice president of Teva’s North America Commercial, said in a Sunday statement.

The North American arm of Teva will move from North Wales, PA. to its new headquarters, a 345,000-square-foot space at 400 Interpace Parkway.