Press release from Business Wire India
Source: GlaxoSmithKline Pharmaceuticals Limited
Thursday, November 14, 2013 04:18 PM IST (10:48 AM GMT)
Editors: General: Economy; Business: Advertising, PR & marketing, Business services, Healthcare, biotechnology & pharmaceutical, Major diversified industrial groups, Media & entertainment, Stock exchanges; Healthcare
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GSK Announces New Rs. 864 crore [£85million] Pharmaceutical Manufacturing Investment in India
Mumbai, Maharashtra, India, Thursday, November 14, 2013 -- (Business Wire India) -- A new Rs. 864 crore [£85million] factory creating 250 jobs in India was today announced by healthcare company GlaxoSmithKline (GSK) as part of its continued commitment to ensuring access to medicines for people in the country.
During a visit to India today to take part in a conference of international business leaders, GSK Chief Executive Officer Sir Andrew Witty said the location of the new factory is yet to be finalised, but that the lead site is in Bangalore.
GSK will partner with local design and construction companies to build a state of the art manufacturing facility which is expected to benefit from leading edge technologies including continuous manufacturing and automated systems.
Today's announcement is GSK's latest commitment to its manufacturing network in India where the company has invested Rs. 1017 crore [£100million] over the last decade. GSK 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 new factory will make pharmaceutical products for the Indian market at a rate of up eight billion tablets and one billion capsules a year. The facility, expected to be operational by 2017, will also include a warehouse, site infrastructure and utilities to support the manufacturing and packing of the medicines.
Around 8500 people work in India for GSK. The company is a leader in dermatology and vaccines, with vaccines such as Rotarix against severe diarrhoea, and Synflorix used to protect children against streptococcus pneumonia. In addition, GSK's consumer business continues to be a market leader with six billion cups of its best known product Horlicks consumed by over 30 million households every year.
Sir Andrew said: "GSK is a long-standing investor in India and we fully support the Government in their efforts to increase access to affordable medicines and to 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."
Notes to editors:
-- GSK's current factories in India are: three for Consumer Healthcare products (Nabha, Sonepat, and Rajahmundry), one for Vaccines packaging and one for Pharmaceuticals products both located in Nashik.
CONTACT DETAILS
Nandini Goswami, General Manager, Corporate Communications, +91 (22) 24959203, nandini.x.goswami@gsk.com
KEYWORDS
ECONOMY, MARKETING, BUSINESS SERVICES, HEALTHCARE, GROUPS, MEDIA, STOCK EXCHANGES, HEALTHCARE
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