Wednesday, October 5th, 2016
In 2017, the global pharmaceutical company Allergan will combine most of its New Jersey operations, presently located in five separate locations throughout the state, into a new U.S. Administrative Headquarters in Madison, officials announced at an event yesterday in Madison.
The Company also will add 300 new jobs following the combination. It is estimated that Allergan’s operations, when combined and expanded, will generate an annual economic impact of $894 million, and will support 3,700 direct, indirect and induced jobs with total employee compensation of $360 million annually, according to the company.
“It’s great news for the county and our taxpayers that a company like Allergan has chosen to set up it’s U.S. headquarters here in Madison,” said Morris County Freeholder Christine Myers, who attended today’s event. “We look forward to having a long and very good relationship with Allergan as a great neighbor to our county community.”
Allergan, headquartered in Dublin, Ireland, is a global pharmaceutical company. Allergan is focused on developing, manufacturing and commercializing branded pharmaceuticals, devices and biologic products.
The company markets a portfolio of leading brands and products for the central nervous system, eye care, medical For more information, visit Allergan’s website at www.Allergan.com.
Allergan now employs more than 1,200 highly skilled workers in New Jersey. The company’s New Jersey operations are located in five sites across the state, including the current U.S. administrative headquarters in Parsippany, commercial and research & development operations in Jersey City, and additional administrative and R&D facilities in Rockaway, Bridgewater and New Brunswick.
In 2017, Allergan will be combining most of its existing New Jersey facilities into a new 431,500 square foot U.S. administrative headquarters in Madison. In addition to relocating more than 1,000 existing New Jersey employees, Allergan will hire 300 new employees who will be located at this new headquarters.
“It’s no surprise Allergan has set up shop in New Jersey – the home to more biopharmaceutical and life science companies than anywhere else in the country. Allergan’s innovations and cutting-edge treatments add to the palette of groundbreaking work done across the State that will be to the benefit of patients seeking high quality care,” said Rep. Leonard Lance.
“Dynamic life sciences companies like Allergan work every day to find new treatments and cures for the world’s most dreaded diseases. This not only benefits patients and advances global human health, it also serves as the engine which drives New Jersey’s workforce and economy,” said Dean J. Paranicas, President and Chief Executive Officer, HealthCare Institute of New Jersey.
A study conducted for Allergan by Econsult Solutions, Inc., a Philadelphia-based economic consulting firm, found that Allergan’s current New Jersey operations generate a combined annual economic impact in the state of $732 million.
“The economic impact is a direct result of the Company’s strong influence on employment in the state, generating more than 2,900 direct, indirect and induced jobs, with total employee compensation of $289 million annually,” the company said in a prepared statement.
The full study is available at this link.