New Jersey officials are celebrating Allergan's ($AGN) decision to build a new 100,000-square-foot, $12 million R&D facility in the state, adding up to 400 research jobs over the next five years. The drug company--best known for selling Botox--has a 20-person subsidiary in Bedminster, but has yet to select a site for the new facility.
"We conducted an extensive search process initially looking at all areas outside of California, but quickly landed on (New Jersey) due to the pool of talent in the pharma/device industry in the region, as well as the proximity to medical centers and universities," spokesperson Cathy Taylor tells The Star-Ledger.
It also didn't hurt that New Jersey officials are preparing a $17 million grant to cover the company's costs, a rich prize but a necessary one for a state that has been hemorrhaging pharma jobs in recent years.
Allergan's Botox bucks have helped finance a growing R&D operation. In July, the company bought Vicept and its mid-stage program for rosacea in a $275 million pact.