Ipsen, a global pharmaceutical company, announced it is moving its North American headquarters from Basking Ridge to Cambridge, Massachusetts.

While the New Jersey-based headquarters operations will transition to its new location over the next 12 months, the company will maintain a core services center in Basking Ridge.

An Ipsen spokesperson told ROI-NJ that the company currently has approximately 150 people in Basking Ridge, and about 30 will remain after the transition.

“We are entering into a new era of innovation and growth for Ipsen as a leading global biotech company,” Richard Paulson, CEO of Ipsen North America, said in a prepared statement. “By bringing our headquarters to Cambridge, we will build a sustainable innovation engine to advance opportunities for our employees and our overall business.”

The company, which has more than 5,400 employees in 115 countries, has three major hub facilities, in France, the United Kingdom and the United States.

The new Cambridge facility will consolidate the company’s U.S. businesses, Ipsen Biopharmaceuticals Inc., including its headquarters as well as its Global External Innovation and Partnering, Research & Development, and Manufacturing teams and certain elements of its Commercial unit, the company said in a news release.