PM Modi’s Sweden Visit: AstraZeneca to invest $90 million in India over next 5 years

Following the signature of the bilateral innovation partnership for a sustainable future between Sweden and India, AstraZeneca announces an investment of USD 90 million in India over the next 5 years to develop local skills, build scientific innovation and promote quality manufacturing with the aim to improve overall health outcomes in the country

The Prime Minister, Mr Narendra Modi with the Prime Minister of Sweden, Mr Stefan Lofven at India-Nordic Summit, in Stockholm, Sweden on April 17, 2018.

New Delhi: Leading global science-led biopharmaceutical company AstraZeneca has announced its decision of further investing $ 90 million over the next 5 years in India. The announcement was made following a meeting between the company’s Executive Vice President for International Region –Mr Leon Wang and Prime Minister of India, Mr Narendra Modi, during the latter’s visit to Sweden, where the two countries signed a joint declaration on innovation partnership for a sustainable future.

At the invitation of Prime Minister of Sweden Stefan Lofven, Prime Minister of India visited Sweden on 16-17 April 2018. This was Prime Minister’s first visit to Sweden as well as a visit to Sweden by Indian Prime Minister after three decades.

This investment commitment in the backdrop of PM Modi’s visit to Sweden 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.”

Leon Wang, Executive Vice President for International Region, AstraZeneca, said “AstraZeneca has a long-standing commitment in India of 40 years. 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. We believe, this investment commitment across AstraZeneca’s business footprint in India, will make a positive impact. It also aligns closely with the government’s vision for healthcare and innovation.”

AstraZeneca’s strategy in India is to address the growing burden of non-communicable diseases. The company invests in many initiatives and programs 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 2000 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 focusses on patient safety and regulatory science in India.