Roche move spotlights NJ's shrinking role in biopharma R&D July 5, 2012 | By John Carroll Roche's ($RHHBY) decision to shutter its big R&D complex in Nutley, NJ, is causing some serious heartache in the state, which has long been known as the home to a wide variety of biopharma companies. The Record tallied the state record and found that New Jersey, which once hosted one of every 5 pharma jobs in the country two decades ago, now can boast of a little more than one in 10. And its research facilities are taking a beating. Roche's cutbacks follow a decision at Sanofi late last year to cut its R&D ops in the state, putting 1.3 million square feet of once-prime biopharma real estate on the market. Cushman & Wakefield is trying to market Pfizer's 2.8 million square foot complex in nearby Pearl River, NY. And Merck's takeover of Schering triggered a decision to dramatically downsize its facilities in Kenilworth. "This is the third extremely large site in the area that is now going to be either totally vacated, or partly vacated," Cushman's Christopher Kinum tells GlobeSt.com about the Roche move. "Conservatively, that makes about five or six million square feet of expensive research/lab space available."
Roche move spotlights NJ's shrinking role in biopharma R&D July 5, 2012 | By John Carroll Roche's ($RHHBY) decision to shutter its big R&D complex in Nutley, NJ, is causing some serious heartache in the state, which has long been known as the home to a wide variety of biopharma companies. The Record tallied the state record and found that New Jersey, which once hosted one of every 5 pharma jobs in the country two decades ago, now can boast of a little more than one in 10. And its research facilities are taking a beating. Roche's cutbacks follow a decision at Sanofi late last year to cut its R&D ops in the state, putting 1.3 million square feet of once-prime biopharma real estate on the market. Cushman & Wakefield is trying to market Pfizer's 2.8 million square foot complex in nearby Pearl River, NY. And Merck's takeover of Schering triggered a decision to dramatically downsize its facilities in Kenilworth. "This is the third extremely large site in the area that is now going to be either totally vacated, or partly vacated," Cushman's Christopher Kinum tells GlobeSt.com about the Roche move. "Conservatively, that makes about five or six million square feet of expensive research/lab space available."
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