Company wants to consolidate operations for its specialty brands groups.
BEDMINSTER -- Pharmaceutical giant Mallinckrodt PLC announced Thursday that it plans to build a new campus in the township for its fast-growing specialty brands business, according to a report in the St. Louis Business Journal.
United Kingdom-based Mallinckrodt, which has its U.S. headquarters in St. Louis, Missouri, said it will build a new campus in the Somerset Financial Center in Bedminster, the report said. The company said it will invest over $80 million in the state and expects to hire approximately 400 people for the new campus in the first quarter next year, the report said.
Mallinckrodt, which has made several recent acquisitions, said it wants to consolidate its operations for the specialty brands groups, which are focused on products in the company's autoimmmune and rare diseases and hospital businesses, the report said.
Bridgewater project moving forward
"With this base, and recognizing the important concentration of specialty pharmaceutical talent and intellectual capital in the area, we believe consolidating our Specialty Brands organizations in New Jersey provides compelling value," Mallinckrodt President and CEO Mark Trudeau said in a statement.
Dave Hutchinson may be reached at dhutchinson@njadvancemedia.com. Follow him on Twitter @DHutch_SL. Find NJ.com on Facebook.