An international pharmaceutical company has said it isn’t going to build an eight-story distribution center in Northeast Philadelphia anytime soon.
Teva, the Israeli-based drugmaker that is a large producer of the generic drugs sold in America, is reassessing its business strategy under new management that took the reins in May.
“We have made the decision to cease development plans for the proposed distribution center on Red Lion Road,” spokeswoman Denise Bradley stated today. “At this time, we cannot elaborate further about plans for this property.”
In 2010, Teva along with many public officials announced the company’s plans to build its North American distribution center at 1 Red Lion Road. Hundred of construction jobs and hundreds of permanent jobs were projected for the Somerton site. Also, 250 trucks a day were predicted to enter and leave the site, a figure that didn’t sit well with area residents.
Teva bought the 136-acre property, the site of the old Island Green golf course, in August 2011. A groundbreaking ceremony was held in fall of that year, but nothing ever happened.
Bradley said Teva remains committed to maintaining the property and to live up to its commitments to improve Red Lion Road.
She said there are no plans to build a facility elsewhere and the company’s American headquarters will remain in North Wales, Pa. Teva produces one out of six generic drugs sold in America.
Contact John Loftus at 215-354-3110 or firstname.lastname@example.org