The 154,000 sq ft office, which will house inVentive from the end of July this year, provides the firm with room to expand while keeping its rental costs at roughly the same level as their current base.
Company president Terrell Herring explained that: "The move to a new headquarters is very consistent with our overall business strategy," and added that consolidating four offices into one building will create efficiencies and result in long-term savings.
He added that: “bringing Strategyx and The Franklin Group under the same roof as our other New Jersey-based businesses will support our ability to work collaboratively and deliver integrated solutions to our clients."
Bringing its operations together may prove to be a shrewd move for inVentive as the increased efficiencies and improved communication such set-ups offer are likely to be attractive to drug industry clients seeking to cut costs and timelines.
In addition, with contracting majors like Patheon, Bilcare and Parexel aiming to offer complete contract development and manufacturing offerings drug firms have become used to working with single source providers.
One firm already attracted by inVentives’ under-one-roof offering is generic injectables developer GeneraMedix. Last month inVentive and product launch consultants Strategyx won the contract to develop and commercialise GeneraMedix’ epoprostenol hypertension treatment, a non-branded version of GlaxoSmithKline’s Flolan.