The state rejoiced when Mumbai-based Sun Pharma announced it intended not only to stay in New Jersey, but to consolidate its presence with a new headquarters in Princeton.
The pharmaceutical company’s new location — which comes with Emerge tax credits of up to $5.2 million — aims to create 220 new jobs and keep hundreds more jobs in the state, including the 230 that are at its current headquarters, officials said.
Keeping the fourth-largest specialty generic pharmaceutical company in the world, one that already has more than 600 employees at various locations around the state, certainly was a winning moment — one that was built on nearly a decade of effort.
Sun Pharma’s decision earlier this spring was evidence that the Gov. Phil Murphy administration’s efforts to increase its ties and connection to India are paying off.
In 2019, Murphy was the first sitting governor to visit India. Numerous visits with representatives from Choose New Jersey and the New Jersey Economic Development Authority followed. In 2024, the state created the New Jersey-India Commission. And earlier this year, Lt. Gov. Tahesha Way led a delegation trip.
“This has been area of the world where the administration has invested heavily in,” EDA CEO Tim Sullivan told BINJE. “We’re thrilled that we’re seeing continued investment from companies from India — especially in the life sciences area.
“To have companies such as Sun Pharma choose to consolidate and create more jobs in New Jersey shows our efforts are having impact.”
Abhay Gandhi, CEO of Sun Pharma North America, said adding to the workforce in New Jersey made sense.
“With our long history as a valued corporate member of the state of New Jersey and the Princeton community, Sun Pharma is proud to participate in the Emerge Program,” he said. “As we continue to bolster investments in our innovative medicines, generics and consumer medicines businesses, we look forward to seeing the positive impact our growth will have for New Jersey, the Princeton community and the patients we support.”
The Emerge Program will award $748,000 in tax credits yearly for seven years, totaling $5,236,000, to support the opening of Sun Pharma’s new headquarters located at 750 College Road E. in Princeton. As part of the program’s requirements, Sun Pharma will remain in New Jersey for a minimum of 11 years.
The new headquarters will house a total of 450 corporate jobs, almost doubling the number of employees based out of the current headquarters. The 100,000-square-foot, Class A office building will help attract top-level talent and allow Sun Pharma to remain competitive in the industry by including modern infrastructure, new, upscale technology and a collaborative work environment to fuel innovation.
Murphy obviously was thrilled by the news.
“Securing a new headquarters location for Sun Pharma is another mile marker in our state’s history and a sign that New Jersey continues to be at the forefront of health care innovation,” he said. “The increased economic activity created by Sun Pharma will help bolster our economy and build a stronger future for the Garden State.”
