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Pharmaceutical major Dr Reddy’s Laboratories is setting up a new R&D centre in Princeton, New Jersey. It also announced plans to relocate its North America headquarters.
The company has entered into two lease agreements for a 75,500-sq ft office facility and a 31,000 sq ft lab facility with National Business Parks, it said in a filing with the BSE today.
It is projected to employ more than 300 people as the company’s US businesses will expand in the coming years. The lab facility will accommodate Dr Reddy’s product development and analytical laboratory requirements.
G.V. Prasad, Chairman and CEO, said, “The relocation will allow Dr Reddy's to tap into local talent which will be instrumental in our long term growth.
This facility, along with those in Cambridge (UK) and Leiden (Netherlands), establishes our presence within some of the leading innovation centres of the world.”
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