A 433-acre campus once owned by Bristol Myers Squibb is now being marketing as the perfect location for pharma companies looking to expand their manufacturing footprint in the U.S.
The 1.2 million-square-foot campus located just outside Princeton, New Jersey was acquired by Lincoln Equities Group (LEG) and H.I.G Realty Partners, who anticipate that the current scrutiny of pharma’s global supply chain will inspire more drugmakers to manufacture in America.
“Given the current public health crisis, we anticipate pharmaceutical and life sciences manufacturers to consider ‘reshoring’ and expanding operations in the U.S.,” said Joel Bergstein, president of LEG in a press release. “This spacious, modern BMS campus — located in the center of ‘Einstein’s Alley’ in Central New Jersey — is a prime location for continued innovation and expansion.”
The nine buildings at the Princeton West Innovation Campus include sites for clinical manufacturing, R&D operations, plug-and-play biological laboratories and office space. LEG and H.I.G. point out that companies who take up residence at the campus will be neighbors with other pharma companies including PTC Therapeutics.
The issue of pharma’s global supply chain has gained more public scrutiny in recent years and has been in the spotlight even more since the outbreak of the coronavirus pandemic, which has revealed U.S. drugmaker’s potentially crippling reliance on APIs sourced from China.
The Trump administration has been throwing money at the problem in an effort to secure America’s supply of drugs by bringing more manufacturing to the U.S. Last month, the White House announced that the government has awarded a contract worth up to $812 million to Virginia-based Phlow Corp. to build the infrastructure for manufacturing APIs and finished dosage forms of critical drugs.
