Mumbai: Global pharmaceutical major GlaxoSmithKline (GSK), on Thursday, announced a Rs.864-crore investment in India to set up a medicine manufacturing unit.
“A new Rs.864-crore (85 million pound) factory will be set up, creating 250 jobs in India as part of our continued commitment to ensuring access to medicines for people in the country,'' a company release says.
During a visit to India to take part in a conference of international business leaders, GSK Chief Executive Officer Andrew Witty said the location of the new facility was yet to be finalised, but the lead site was in Bangalore.
“GSK is a long-standing investor in India, and we fully support the government in their efforts to increase access to affordable medicines and improve healthcare.
“This new facility will substantially increase the capacity of our manufacturing base, and enable us to bring more medicines to the people of India,” he said.
GSK would partner with local design and construction companies to build the state-of-the-art unit, which was expected to benefit from leading edge technologies, Mr. Witty said.
The drug maker is proactively building capacity in the country as it delivers its portfolio of products in areas such as gastroenterology and anti-inflammatory medicines.
When complete, the factory would make pharma products for the domestic market at a rate of up to eight billion tablets and one billion capsules a year, the release says.
The facility, expected to be operational by 2017, would include a warehouse, site infrastructure and utilities to support the manufacturing and packing of medicines, the release adds. The announcement is the company's latest commitment to its manufacturing network in India where it has invested Rs.1,017 crore (100 million pound) over the last decade.
Around 8,500 people work in India for GSK, a leader in dermatology and vaccines.
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