Bausch & Lomb opened its new 30,000 square-foot global pharmaceutical headquarters in Madison Monday, a move that will create 70 new full-time, high-paying jobs.
Company officials said New Jersey's pharmaceutical and biotechnology industries were a key factor in Bausch & Lomb's decision to establish its headquarters at Giralda Farms. According to the Healthcare Institute of New Jersey, 15 of the world's top 25 pharmaceutical companies have either world or North American headquarters or significant operations in the state.
The new facility also provides welcome relief to state officials attempting to find a silver lining in the state's pharmaceutical industry in an election year. In 1990, the state was home to 20.2 percent of all pharmaceutical industry, according to the Bloustein School of Planning and Public Policy at Rutgers University. Last year, the percentage had slipped to 13.1 percent.
"Establishing our global pharmaceutical headquarters in New Jersey opens up opportunities to partner with other pharmaceutical companies and to drive commercialization of new products," said Gerald M. Ostrov, Bausch & Lomb's CEO.
"Our recently announced co-promotion agreement with Pfizer for prescription ophthalmics in the U.S. is the first example of how we are successfully implementing this strategy. We're looking forward to growing our presence here, which in turn will help us bring the best possible eye health products and services to people around the world."
Gov. Jon Corzine took part in a ribbon cutting ceremony at the facility.
"Bausch & Lomb's decision to locate its pharmaceutical headquarters in New Jersey demonstrates the state remains an attractive location for major pharmaceutical companies to grow and thrive," Corzine said. "I want to thank CEO Gerald M. Ostrov and Global Pharmaceuticals President Flemming Ornskov for Bausch & Lomb's commitment to the Garden State.''
While the company maintains its worldwide headquarters in Rochester, N.Y. and research and development in locations worldwide, this new Madison facility establishes its pharmaceutical headquarters within a global epicenter for the industry.
Bausch & Lomb is one of the best-known healthcare brands in the world. Its core businesses include contact lenses and lens care products, ophthalmic surgical devices and instruments, and ophthalmic pharmaceuticals. Founded in 1853, the company employs more than 10,000 people worldwide and its products are available in more than 100 countries.
"As we bring new products to market, such as our recently FDA-approved Besivance (besifloxacin ophthalmic suspension) 0.6 percent for the treatment of bacterial conjunctivitis, having our global and U.S. leadership, marketing and sales teams headquartered in New Jersey is ideal," said Ornskov.
"Not only does it provide professional development opportunities for current staff, but is also fertile ground for recruiting the best possible talent to work with us, whether as an industry partner or employee."
