Astrazeneca Pharma firms up after announcing investment in India

Astrazeneca Pharma India rose 3.28% to Rs 1,027.15 at 9:42 IST on BSE after parent, AstraZeneca, announced its decision of further investing $90 million over the next 5 years in India.

The announcement was made after market hours yesterday, 17 April 2018.

Meanwhile, the S&P BSE Sensex was up 19.61 points, or 0.06% to 34,414.67.

On the BSE, 695 shares were traded in the counter so far compared with average daily volumes of 695 shares in the past two weeks. The stock had hit a high of Rs 1,045.50 and a low of Rs 1,008.80 so far during the day. The stock hit a 52-week high of Rs 1,278 on 7 November 2017. The stock hit a 52-week low of Rs 882.55 on 22 August 2017.

Leading global science-led biopharmaceutical company AstraZeneca announced its decision of further investing $90 million over the next 5 years in India. The announcement was made following the signature of the bilateral innovation partnership for a sustainable future between Sweden and India.

This investment commitment will span across AstraZeneca's diverse footprint in India with an aim to strengthen its manufacturing, clinical operations, patient safety & regulatory science, IT services and commercial operations. Furthermore this investment will support scientific data generation, quality manufacturing, science talent development and collaborative development of innovative solutions to improve the standard of care of non-communicable diseases in India.

Astrazeneca Pharma India reported net loss of Rs 10.35 crore in Q3 December 2017 as against net profit of Rs 16.21 crore in Q3 December 2016. Net sales declined 14.47% to Rs 128.54 crore in Q3 December 2017 over Q3 December 2016.

AstraZeneca Pharma India is the operating company covering manufacturing, sales and marketing activities. It has an innovative portfolio to address the unmet needs in non-communicable diseases such as diabetes, heart disease, cancer, asthma & COPD.

As on 31 December 2017, AstraZeneca Pharmaceuticals AB held 75% stake in AstraZeneca Pharma India.

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