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Life Sciences foreign direct investment is shifting to high-growth areas worldwide, according to a new Jones Lang LaSalle study. While the U.S. remains the top recipient of FDI, Asia is emerging as a market viewed as ripe with opportunity.
An Arizona-based medical device company plans to expand in Mesa with 100 new jobs by 2014.
A medical diagnostics company plans to hire as many as 500 people over the next five years in High Point, N.C. Solstas Lab Partners already employs more than 700 in High Point and more than 1,750 across North Carolina.
Merck/MSD Relocates Swiss HQ
Merck Sharp & Dohme AG (MSD is known as Merck in the U.S and Canada) has completed the relocation of its Swiss headquarters from Glattbrugg, near Zurich, to the canton of Lucerne. The company will add 200 jobs in Lucerne as a result of transfers from other European and U.S. offices.
"Lucerne's business development department has been very helpful in finding office space, homes for MSD executives to live and schools for their children," said Ad Ruijs, managing director for MSD in Switzerland. "We are building a presence for the new MSD based on a strong legacy of Schering-Plough in Lucerne. MSD feels at home here."
Study says big pharma remains overstaffed in sales.
Generic Drug Maker Expands
Ascent Pharmaceuticals, a generic prescription medicine maker, is expanding its presence on Long Island by acquiring a 250,000-sq.-ft. (23,225-sq.-m.) facility in Central Islip, an investment that is expected to bring 350 new jobs to the area over the next five years.
Ascent purchased the facility for $14.5 million after receiving nearly $5.6 million in state and local incentives. The company plans more than $20 million in infrastructure upgrades and manufacturing additions, including special labs and packaging facilities. Construction is expected to begin as soon as Ascent receives building permits from the town.
The company, owned by InvaGen Pharmaceuticals, intends to stay at its three current locations in Hauppauge, while also growing its business in Central Islip.