Dr Reddy' s Laboratories has shifted its North American headquarters from its old home office in Upper Saddle River in New Jersey to more modern facilities in the Somerset Corporate Center at Bridgewater in central New Jersey.
"Given our strategy and growing presence in generic and specialty pharmaceuticals, it made sense to be in the heartland of the pharmaceutical industry which is Central New Jersey", says Dr Dennis Langer, president, North America Operations.
GV Prasad, chief executive officer, Dr. Reddy's says, "we are committed to making the investments needed to pursue our objective of establishing a leading presence in the North American market. This move will help us consolidate on the commercial gains we have made in this market over the last few years".
New Jersey is often referred to as the medicine chest of the pharmaceutical industry and Bridgewater is at the center of this state. Merck's global headquarters, Aventis' s North American headquarters for commercial operations, Johnson & Johnson' s headquarters are close by in New Brunswick. Schering, Novartis and Bristol- Myers Squibb are a half hour drive away. A number of generic companies including Biovail, Sandoz (Novartis), Watson and Ranbaxy are also nearby.
The relocation follows a period of sustained growth for the company's business in North America, a company release stated.