Pharma Firm Teva Moving HQ to New Jersey from Pennsylvania


New Jersey Gov. Phil Murphy says Teva Pharmaceuticals is moving its U.S. headquarters to the state from Pennsylvania.

The Israel-based company is moving from North Wales to Parsippany-Troy Hills.

Murphy says the move will mean 843 jobs will be transferred or created and 232 positions will be retained.

The Democratic governor says the median annual wage for those jobs is about $128,000. The Census shows New Jersey’s median household income over the four-year period ending in 2016 was about $74,000.

New Jersey’s Economic Development Authority in June approved about $40 million in tax credits over 10 years for Teva.

Teva executive Brendan O’Grady says the company will keep a “significant presence” in Pennsylvania and that the new location will be closer to life sciences and business hubs.

Updated Monday, July 9, 2018 at 12:57 pm .