US pharma major Eli Lilly announced an investment of more than $1 billion in India over the next few years to boost contract manufacturing and supply through local drugmakers.
It is seeking to tap into the country's skilled workforce to bolster global manufacturing growth. The investment includes establishment of a manufacturing and global medicine supply capacity in Hyderabad.
"This new hub will offer advanced technical capabilities and oversight for Lilly's contract manufacturing network across India," the company said.
Patrik Jonsson, president, Lilly International, and executive vice-president of Eli Lilly, said the company is making significant investments to ramp up manufacturing and medicine supply capacity around the world. This will ensure that patients have access to the medicines they need.
"This investment reaffirms our confidence in India as a hub for capability building within our global network," he added.
The collaboration also aims at leveraging a skilled talent pool in India to support its global manufacturing growth and deliver medicines to patients worldwide.
"These facilities and investments address growth from potential new medicines to treat diabetes and obesity, Alzheimer's disease, cancer and autoimmune conditions and prepare for medicines of the future," the company said.
-- Sanket Koul, Business Standard
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