The Hindu Business Line : Dr Reddy's moves US hqrs to New Jersey

DR REDDY'S Laboratories Ltd has announced that it 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 Centre at Bridgewater in central New Jersey.

According to the company, New Jersey has been often referred to as the medicine chest of the pharmaceutical industry and Bridgewater is at the centre of this medicine chest.

Merck's global headquarteris down the road a short distance in Whitehouse Station. Aventis' North American headquarters for commercial operations is located in two buildings in the same Somerset Corporate Centre. Johnson & Johnson's headquartersis 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. In a press release here on Monday, Dr Reddy's said besides space, the move of shifting the North American headquarters was also prompted by sound competitive strategy.

The Dr Reddy's Chief Executive Officer, Mr G.V. Prasad, said: "This move will help us consolidate on the commercial gains we have made in this market over the last few years."

Commenting on the development, the Dr Reddy's President, North American Operations, Dr Dennis Langer, said, "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."

The company said the relocation follows a period of sustained growth for its business in North America.

An added advantage is the fact that all 45 of the existing employees live in the proximity of the new office, the release said.

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