AstraZeneca to invest $90 mn in India over next 5 years

Biopharmaceutical firm AstraZeneca today said it will invest $90 million (around Rs 5.9 billion) in India over the next five years.

The announcement follows signing of a bilateral innovation partnership for a sustainable future between Sweden and India, AstraZeneca said in a statement on Tuesday.

"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," AstraZeneca Executive VP for International Region Leon Wang said.

The company believes, 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, Wang said.

This investment commitment will be aimed at strengthening manufacturing, clinical operations, patient safety and regulatory science, IT services and commercial operations, AstraZeneca said.