Teva Pharmaceutical Industries Ltd. will relocate its U.S. headquarters into a planned New Jersey facility, the company confirmed on Thursday. The Israeli drugmaker (NYSE: TEVA), which currently hosts its U.S. headquarters in the Philadelphia area and a specialty pharmaceutical business in Overland Park, announced in December that it would cut 14,000 jobs and consolidate its seven U.S. locations into one main campus.
The planned headquarters at Parsippany-Troy Hills will involved expanding an existing Teva location to 350,000 square feet, the Philadelphia Business Journalreports. The New Jersey Economic Development Authority approved $40 million in performance-based tax credits over 10 years for the project, which is expected to bring in or create 800 positions.
In an email Friday, Teva said that it would continue to maintain a presence in Pennsylvania, but did not confirm any details about its Overland Park offices.
As for Teva’s future in the Kansas City area, the company began winnowing down its workforce in December. It cut 57 jobs from its Overland Park headquarters for Teva Neuroscience, which reported 388 employees in 2017.
A Florida-based health care company, AssistRx Inc., will take over a portion of its Overland Park offices and rebadge roughly 200 of Teva’s employees. In April, Teva confirmed it sold AssistRx its patient services and solutions segment, which provided on-call nurses and support for patients using Teva’s specialty products, such as treatments for multiple sclerosis and Parkinson’s disease.
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