AstraZeneca to invest Rs 176 cr to expand GITC in Chennai

Global pharma major AstraZeneca on Saturday announced investment of Rs 176 crore in India to expand capabilities and infrastructure at its Global Innovation & Technology Centre (GITC) in Chennai.

The new investment, third in the past two years in India, will expand the GITC to strengthen its position as a leader in healthcare innovation both globally and in the country, AstraZeneca said in a statement.

"This new investment reflects our ongoing mission to improve patient lives by embedding cutting-edge technologies into every aspect of our work. Chennai continues to evolve as a vital innovation hub, and our continued growth here demonstrates the state's boundless potential,"AstraZeneca India Pvt Ltd Managing Director Siva Padmanabhan said.

The investment supports the growth of AstraZeneca's world-class technology and innovation teams, including specialists in artificial intelligence, data analytics, machine learning, data science, and supply chain analytics to shape and transform healthcare outcomes, the company said.

Additionally, this step will help accelerate the delivery of next-generation medicines, support digital and data-driven solutions, and help shape future-ready healthcare ecosystems, it added.

Quoting Tamil Nadu Chief Minister MK Stalin, the statement said,"This additional investment in Chennai is a testament to the state's reputation as a centre of excellence for global innovation."

This partnership will generate skilled opportunities, encourage knowledge exchange, and reinforce Tamil Nadu's status as a premier destination for forward-looking industries, Stalin added.

In addition to its innovative portfolio in specialist disease areas including oncology, cardio-vascular, respiratory and rare disease, AstraZeneca said it has a strong hub for technology, global business services as well as research and development in India. Including the GITC, it employs more than 5,000 people in the country, it added.