Novartis isn't going anywhere right away, and it certainly isn't leaving New Jersey. The firm will lease the 88-acre property from Schering-Plough until March 2003 when expansion of its other major facility in nearby East Hanover is completed. Most of the company's Summit-based employees will be transferred to East Hanover.
In the meantime, Novartis will clean up groundwater contamination at the site, and Schering-Plough is expected to begin construction on a safety-evaluation facility and carry out selected renovations. Once Novartis departs, Schering-Plough will have the site to itself.
The 70-year-old campus was originally developed by Ciba Pharmaceuticals, later Ciba-Geigy. The latter merged with Sandoz in 1997 to form Novartis. Novartis brought Cushman & Wakefield-NJ on board to dispose of the property a year ago. Schering-Plough was represented by the Garibaldi Group of Chatham.
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