AstraZeneca earmarks $90 million in India investments over next 5 years
Bengaluru: Biopharmaceutical company AstraZeneca on Tuesday announced its decision to further invest $90 million in India over the next five years. The announcement was made following a meeting between the company’s executive vice-president for international region Leon Wang and Prime Minister Narendra Modi, who is now on a visit to Sweden, the company said.
The investment commitment would 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, it said.
Furthermore, the investment would 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 company, in a release in Bengaluru, also said the commitment aligns closely with Indian government’s initiatives to create a stronger business, innovation, and health care environment such as “Skill India”, “National Health Policy” and “Ayushman Bharat.”
Leon Wang said AstraZeneca has a longstanding commitment in India of 40 years, adding, “our latest investment reflects our commitment to address the unmet needs in non-communicable diseases, enable high-value job creation and boost medical innovation in the country.”
At present, AstraZeneca has a workforce of over 4,000 employees in India spanning manufacturing, sales and marketing, clinical operations, IT services, digital services and Global medicines development, the release said.
AstraZeneca Pharma India Limited (AZPIL), a listed company, is headquartered in Bengaluru. The company’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, it said.
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, the release said.