Watson Pharma (WPI) to Invest $4.5M in Global R&D Tech Center
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Watson Pharmaceuticals, Inc. (NYSE: WPI) today announced plans to establish a Global R&D Technology Center in North Brunswick, New Jersey. The Company has signed a lease for a 32,000-square-foot facility at the New Jersey Economic Development Authority's Technology Centre of New Jersey, a 50-acre complex consisting of lab, production and office space. Watson intends to initially invest approximately $4.5 million in outfitting the new facility.
The Company plans to immediately retrofit approximately 19,000 square feet of space for product development and analytical laboratories. The remaining 13,000 square feet will accommodate future expansion. The facility, which is expected to be completed in the spring of 2012, will employ approximately 50 scientists, chemists, engineers and support staff.
The Company plans to immediately retrofit approximately 19,000 square feet of space for product development and analytical laboratories. The remaining 13,000 square feet will accommodate future expansion. The facility, which is expected to be completed in the spring of 2012, will employ approximately 50 scientists, chemists, engineers and support staff.
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