AstraZeneca earmarks Rs 176 cr investments in India; to boost GITC in Chennai

Chennai, Sep 6 (PTI) Global bio-pharmaceutical company AstraZeneca has committed investments of Rs 176 crore in India, which includes expansion of its Global Innovation and Technology Centre in Chennai, and focusing on advancing technology and innovation efforts in healthcare.

The commitment by the company was made at the TN Rising London campaign organised by the Tamil Nadu government, coinciding with Chief Minister M K Stalin's visit to the United Kingdom.

It is the third investment by AstraZeneca after it announced investments of Rs 166 crore in June towards the establishment of a state-of-the-art Global Hub in Bengaluru. In July 2024, AstraZeneca announced investments of Rs 250 crore towards expanding the Global Innovation and Technology Centre in Chennai.

At an event on Friday, officials of AstraZeneca and Guidance, the Tamil Nadu government-backed investment promotion agency, exchanged documents in the presence of Stalin and Industries Minister TRB Rajaa among others.

The investment is focused on expanding the capabilities and infrastructure at its GITC in Chennai to strengthen its position as a leader in healthcare innovation both globally and in India, a company statement said here on Saturday.

The GITC in the city would benefit immensely from upgraded and additional capacity designed to enable collaborative research and transformative solutions that address complex healthcare challenges. PTI VIJ VIJ KH