AstraZeneca to exit the manufacturing site in Bangalore 'in due course'

International pharma giant AstraZeneca said on November 16 that it intends to exit the manufacturing site in Bangalore, 'in due course.'

It added that the company will position the manufacturing site for sale in a fully operational manner and begin a search for a buyer who can also act as a Contract Manufacturing Organisation (CMO) for its products currently manufactured or packaged at this site, subject to receipt of necessary statutory approvals.

The Indian arm of the pharma company reported a 60.8 percent on-year growth in profit at Rs 52.4 crore, driven by exceptional gain and a revenue of Rs 311 crore in the July-September quarter.

AstraZeneca Pharma India is a listed subsidiary of AstraZeneca Plc, UK. It covers the manufacturing, sales and marketing activities of the company in India. AstraZeneca gained attention after the vaccine it developed with Oxford sold as Covishield in India was used throughout the world to as a preventive measure against the pandemic.