Moneycontrol
Last Updated : Apr 17, 2018 07:49 PM IST | Source: Moneycontrol.com

AstraZeneca to invest Rs 600 crore in India over next 5 years

The investment commitment will span across AstraZeneca’s diverse footprint in India with an aim to strengthen its manufacturing, clinical operations, patient safety and regulatory science, IT services and commercial operations

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Anglo-Swedish drugmaker AstraZeneca on Tuesday said it will be investing around Rs 600 crore over the next 5 years in India.

The announcement was made following a meeting between the company’s Executive Vice President for International Region, Leon Wang, and Prime Minister Narendra Modi, during the latter’s visit to Sweden, where the two countries signed a joint declaration on innovation partnership for a sustainable future.

The investment commitment will span across AstraZeneca’s diverse footprint in India with an aim to strengthen its manufacturing, clinical operations, patient safety & regulatory science, IT services and commercial operations.

“Furthermore, this investment will support scientific data generation, quality manufacturing, science talent development and collaborative development of innovative solutions to improve the standard of care of non-communicable diseases in India. The commitment also aligns closely with the Indian government’s initiatives to create a stronger business, innovation, and healthcare environment such as Skill India, National Health Policy and Ayushman Bharat,”  AstraZeneca said in a statement.

AstraZeneca’s strategy in India is to address the growing burden of non-communicable diseases. The company invests in many initiatives and programmes such as the Young Health Programme, Early Action in Diabetes & Healthy Lung for early action in awareness, prevention, detection and holistic management of non-communicable diseases.

At present, AstraZeneca has a workforce of over 4000 employees in India spanning manufacturing, sales and marketing, clinical operations, IT services, digital services and global medicines development.

The company recently announced expansion of its Global Technology Centre (GTC) in Chennai, now employing more than 2,000 employees. GTC is AstraZeneca’s first insourced IT facility. AstraZeneca’s manufacturing facility in Bengaluru has a sophisticated production facility designed to meet the most stringent international standards, conforming to World Health Organisation cGMP (current Good Manufacturing Practices) norms. AstraZeneca also has a sizeable clinical operation and is expanding its global medicines development unit that focuses on patient safety and regulatory science in India.

Shares of AstraZeneca rose 4.11 per cent to close at Rs 994.55 on BSE, the benchmark Sensex gained 0.26 per cent to end at 34,395.06 points.
First Published on Apr 17, 2018 07:49 pm
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