New Jersey Pharma Plant Finds an Angel with "Halo"

SUGAR LAND--October 22, 2008--Researched by Industrial Info Resources (Sugar Land, Texas)--As part of its consolidation strategy, Abbott Laboratories (NYSE:ABT) (Abbott Park, Illinois) will divest its 134-employee manufacturing plant in Whippany, New Jersey, by the end of the year. However, a small biotech start-up firm has agreed to purchase the facility and take ownership by December 1. This is rare and welcome news for the citizens of Whippany and Morris County who, within the last year, were notified that the region will lose three of its biggest taxpayers.

Other companies featured: Pfizer (NYSE:PFE), Schering-Plough (NYSE:SGP), Merck & Company (NYSE:MRK), GlaxoSmithKline (NYSE:GSK)