NEW DELHI: Drug firm AstraZeneca Pharma will exit manufacturing at its only plant based in Bangalore, as part of a “global strategic review’’. The company with revenues of over Rs 1000 crore, feels that it can derive more value for its shareholders by transferring core manufacturing to a contract manufacturer.
As a part of AstraZeneca’s ongoing strategic review of its global manufacturing and supply network, the company intends to exit the manufacturing site in Bangalore, in due course, it said in a stock exchange filing.
The company will position the manufacturing site for sale in a fully operational manner and begin a search for a buyer who can also act as a contract manufacturing organisation (CMO) for the company’s products currently manufactured or packaged at this site, subject to receipt of necessary statutory approvals, it added.
As a part of AstraZeneca’s ongoing strategic review of its global manufacturing and supply network, the company intends to exit the manufacturing site in Bangalore, in due course, it said in a stock exchange filing.
The company will position the manufacturing site for sale in a fully operational manner and begin a search for a buyer who can also act as a contract manufacturing organisation (CMO) for the company’s products currently manufactured or packaged at this site, subject to receipt of necessary statutory approvals, it added.
