Going forward, the Far Hills-based company will focus entirely on its real estate development business, while Arc Building Partners will become its go-to construction partner for upcoming projects.

Vice President Justin Lupo arranged the sale on behalf of the seller, Mercer Management, and procured the purchaser, Westover Cos.

The move, which will primarily impact the company's product pipeline teams, is expected to generate cost savings of $4.0 - $4.5 million on an annualized run-rate basis.

The grants will be used for a range of projects including runway safety improvements, improving erosion control and taxiway improvement.

In contrast to the week leading up to last summer's June 30 deadline to approve the state's fiscal spending plan, Gov. Phil Murphy and legislative leadership are not scheduled to meet on the 2020 budget ahead of Sunday.

The complaint accuses 20 drug companies and 16 individual defendants. More than half of the corporate defendants are based in New Jersey, and five of the individual defendants reside in the state.

In addition to benefiting from close proximity to New Jersey's top pharmaceutical companies and its 3,200 life sciences facilities, the company has also been aided by the state’s Technology Business Tax Certificate Transfer Program, known as the Net Operating Loss (NOL) program.

The medication is used to treat acute withdrawal symptoms after patients have been revived from an opioid overdose with the reversal drug naloxone.

“We should be just as concerned about the fate of individual casino workers and their families in Atlantic City as the stockholders are about their profits. The combined company will own 60 casino resorts across 16 states, but we need to look out for the impact on New Jersey,” Sweeney said.

The appointments come on the heels of the Florham Park-based company’s acquisition of two Los Angeles-based businesses – including Cosmetic Design Group.