AZREFI makes investments in Indian science

1871 Investors following AstraZeneca. Share this News with them.

0

Like this story, share it with millions of investors on M3

AZREFI makes investments in Indian science

AstraZeneca Research Foundation India makes investments in Indian science to ensure pioneering science sponsorship continues.

Post your opinion here

 

0

Tweet

Share on Tumblr

RELATED NEWS AstraZeneca expanding R&D operation in India Ranbaxy granted approval to mfg & mkt Atenolol tablets ALSO READ See latest News about AstraZeneca See previous management interviews See what other Experts & Brokerages are saying about AstraZeneca AstraZeneca BSE | NSE 25/05/12 Are Mutual Funds betting on AstraZeneca?

An AstraZeneca Foundation, founded 20 years ago, to foster biomedical research in India has met its initial goals and has restructured it's funds for the long term, to build upon its pioneering sponsorship work in the future.

For the past two decades the independent, not-for-profit society, supported by the AstraZeneca Research Foundation India (AZREFI), has fostered biomedical research in India for the discovery of therapeutics, prophylactics and diagnostics for diseases afflicting large populations. Nominees, both of the Indian Government and the parent company, AstraZeneca, have jointly administered AZREFI.

In recent years the Society has seen many of its initial goals fulfilled, with the growing investment of AstraZeneca research in India, initially demonstrated with the opening of the AZ Research Facility in 2003 and further consolidated by the recent expansion of the facility to include a $15 million centre for process chemistry.

The Indian environment for applied biomedical research has changed dramatically over the past 20 years. Following a year-long discussion between the Board of AZREFI, the Indian Government and AstraZeneca, the Society at its AGM decided that the time has come also for AZREFI to change, and focus on sustained support for a smaller number of projects. Therefore, the Society has decided to dissolve the formal constitution and invest in more long-term projects to ensure that sponsorship of Indian science started by AZREFI will continue into the future and build upon the pioneering work of this organisation.

Professor Jan Lundberg Executive Vice President of Discovery Research at AstraZeneca said, "We are very proud of the achievements of the AstraZeneca Research Foundation India over the years and would like to express our thanks to all the members of the Society and Indian Government representatives who have worked hard to achieve these goals, in particular Dr Anand Kumar, Director, AZREFI.

The long-term investments that have now been made are in critical areas of enabling science for India, to become a global force in drug discovery and medical research. AstraZeneca has recognised the strengths of Indian science for many years, as demonstrated by our growing and sustained commitment, and we believe that India has an important role to play globally in the future."  

Contd. on page 2 .........