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Lexicon Shutters Two NJ Facilities, Consolidates Drug-Discovery Unit

NEW YORK, June 25 - A Lexicon Genetics subsidiary has consolidated two of its east-coast facilities into one larger one, a company official told GenomeWeb yesterday.

 

Lexicon Pharmaceuticals has moved into the nearly finished space in Hopewell Township, NJ, last week. The facility, designed to accommodate the company's New Brunswick, NJ, and West Windsor, NJ, offices, will be home to Lexicon Pharmaceuticals' small-molecule drug-discovery efforts, according to Alan Main, the unit's senior vice president.

 

Asked whether the move will trigger job cuts, Main said: "Quite the opposite, actually. We are moving into a much larger facility and we will be hiring."

 

According to Main, the 75,000-square-foot space currently employs 10 researchers and two administrators. He said the company expects to boost that number to 40 by the end of the year, a number that will comprise 30 transfers and 10 new hires. The headcount should grow to between 75 and 100 by the end of 2003, Main said.

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