Johnson & Johnson Pharmaceutical Research & Development, L.L.C. Breaks Ground on New Facility
SPRING HOUSE, Pa., April 19, 2007 /PRNewswire-FirstCall/ -- Johnson & Johnson Pharmaceutical Research & Development, L.L.C. (J&JPRD) announced today it has started construction of a new building on its Spring House, Pennsylvania campus, that will add approximately 150,000 square feet in new laboratory, clinical development and office space to its existing facilities. The site will become J&JPRD's East Coast hub for discovery research and early clinical development upon its completion in 2009.
"This expansion demonstrates our commitment to ongoing research and development as a key driver of our future success," said Joseph C. Scodari, Worldwide Chairman Pharmaceuticals, Johnson & Johnson. "Johnson & Johnson is proud of its long heritage of pioneering research on this site. More than 15 major products were discovered or developed here, including several of our company's major prescription medicines, such as TOPAMAX(R), ULTRAM(R) and ULTRACET(R). We intend to continue building on that tradition for many more years to come."
The multidisciplinary teams at J&JPRD are using the latest technologies and research approaches, including biomarkers, pharmacogenomics and structural biology, to discover and develop new life-saving medicines and address some of the world's greatest unmet medical needs. This investment in this research building ensures that the teams have a fully equipped, state of the art facility to continue conducting world-class research.
"This investment is a key component of our long term strategy to continue the sustained flow of innovative, high-quality compounds from our internal research," said Paul Stoffels, M.D., Company Group Chairman, Pharmaceutical Research and Development, Johnson & Johnson. "The new facility will provide our East Coast team with state of the art capabilities to accelerate drug discovery and early development programs, and continue our tradition of delivering new medicines and driving value for our patients."
Under the plan, J&JPRD will retain 680 existing jobs at the site, and expects to add another 120 jobs over the next three years. J&JPRD and its affiliates employ over 5,000 people at its research and early clinical development hubs located in Pennsylvania, California and across Europe.
"As we begin to write a new chapter in our history as a proud corporate member of the Montgomery Township community, we would like to thank Governor Rendell, and the Department of Community and Economic Development of the Commonwealth of Pennsylvania, for their partnership and collaboration to the success of this important initiative," said Roger Bone, Ph.D., Senior Vice President, and Head of the Spring House Research and Early Development site.
Johnson & Johnson Pharmaceutical Research & Development, L.L.C. (J&JPRD) is part of Johnson & Johnson, the world's most broadly based producer of healthcare products. J&JPRD is headquartered in Raritan, New Jersey (USA), and has facilities throughout Europe and the United States. J&JPRD is leveraging drug discovery and drug development in a variety of therapeutic areas to address unmet medical needs worldwide.
(This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could vary materially from Johnson & Johnson's expectations and projections. Risks and uncertainties include general industry conditions and competition; economic conditions, such as interest rate and currency exchange rate fluctuations; technological advances and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approvals; domestic and foreign health care reforms and governmental laws and regulations; and trends toward health care cost containment. A further list and description of these risks, uncertainties and other factors can be found in Exhibit 99 of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2006. Copies of this Form 10-K, as well as subsequent filings, are available online at http://www.sec.gov or on request from Johnson & Johnson. Johnson & Johnson does not undertake to update any forward-looking statements as a result of new information or future events or developments.)
CONTACT: Ernie Knewitz of Johnson & Johnson Pharmaceutical Research &Development, L.L.C., +1-908-927-2953, firstname.lastname@example.org
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Posted: April 2007
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