On Jul. 6, 2018, Teva Pharmaceuticals announced it would move its U.S. headquarters to Parsippany-Troy Hills, New Jersey as part of a plan to centralize its operations in North America.

Teva planned to create more than 1,000 high-wage jobs at the new facility. Teva received 10-year, $40 million tax savings incentives from the NJ Economic Development Authority to assist in the relocation.