Tuesday, October 21, 2014
Inquirer Daily News

Endo Pharmaceuticals to leave Chadds Ford for Malvern

The specialty drug firm that has grown via a series of acquisitions will move its headquarters from one Philadelphia suburb to another.

Endo Pharmaceuticals to leave Chadds Ford for Malvern

Endo Pharmaceuticals Holdings Inc. will move its corporate headquarters to Malvern from its current location in Chadds Ford by December 2012.

The company plans to move its 500 local employees into a build-to-suit building being developed by Trammell Crow at the Atwater Corporate Center in East Whiteland Township, Chester County, according to an Endo spokesman.

The project would replace the four buildings in Chadds Ford in which Endo leases about 185,000 square feet of space.

The specialty drug maker said in a statement that its new headquarters "addresses its continued growth" which has come by way of several acquisitions of health-care, medical device and pharmaceutical companies in recent years.

Here's what Endo CEO Dave Holveck had to say:

I believe this move will undoubtedly send a positive message of growth, stability and promise to our pharmaceutical and business counterparts.

Endo reported total revenue of $1.93 billion for the nine months ended Sept. 30, up 60 percent from the same period a year ago. Its top-selling product is Lidoderm, a pain medication.

The new headquarters will be about 18 miles from its current location, but will keep the drug company in the Philadelphia region.

Mike Armstrong Inquirer Columnist
About this blog
Mike Armstrong blogs about Philadelphia corporations and business-related topics. Contact him at 215-854-2980. Reach Mike at marmstrong@phillynews.com.

Mike Armstrong Inquirer Columnist
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