financetom
Business
financetom
/
Business
/
Amgen to invest $200 million in India site, CEO says
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Amgen to invest $200 million in India site, CEO says
Feb 23, 2025 11:23 PM

HYDERABAD, India, Feb 24 (Reuters) - U.S. drugmaker

Amgen ( AMGN ) will invest about $200 million this year in its

new technology centre in southern India, with further

investments planned, Chief Executive Officer Robert Bradway said

at the inauguration of the site on Monday.

Amgen ( AMGN ) announced its plans to open a "technology and

innovation" site in India last year that is focused on

increasing the use of artificial intelligence and data science

to support development of new medicines.

The drugmaker is one of many pharmaceutical giants looking

to expand their presence in India, the so-called "pharmacy of

the world", and has emerged as a hub for global capability

centres in recent years.

"We have wanted for a long time to expand Amgen's ( AMGN ) presence

in India and that time has come. Amgen ( AMGN ) is investing an initial

$200 million in this centre in 2025 and plan to make additional

significant investments in future years," Bradway said.

The site in Hyderabad, capital of the state of Telangana, is

expected to have a workforce of about 2,000 by the end of the

year, with around 300 employees already working there, said Som

Chattopadhyay, national executive for India at Amgen ( AMGN ).

The city will also host the BioAsia conference this week,

where executives from global drugmakers including Amgen ( AMGN ), Eli

Lilly ( LLY ) and Novartis, as well as several Indian

pharmaceutical giants will be speaking.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Truist's profit falls on hit from securities sale, lower interest income
Truist's profit falls on hit from securities sale, lower interest income
Jul 22, 2024
July 22 (Reuters) - Truist Financial ( TFC ) reported a 33% drop in second-quarter profit on Monday, dragged down by a $5.1 billion loss on the sale of some securities and lower net interest income (NII). The bank's results mirror earnings at several lenders, which have seen a decline in NII as high interest rates impede loan demand. NII...
Chesswood To File Restated Financial Statements and MD&A As a Result of Prior Disclosed Errors In Borrowing Base Calculations
Chesswood To File Restated Financial Statements and MD&A As a Result of Prior Disclosed Errors In Borrowing Base Calculations
Jul 22, 2024
07:26 AM EDT, 07/22/2024 (MT Newswires) -- Chesswood Group Limited ( CHWWF ) , which lost 5.5% and nearer to 52 week lows last Friday, on Monday said it will have to prepare and file restated financial statements and management's discussion and analysis for the three months ended March 31, 2024 as a result of its prior disclosed errors in...
IQVIA Holdings Q2 Adjusted Earnings, Revenue Climb; 2024 Guidance Updated
IQVIA Holdings Q2 Adjusted Earnings, Revenue Climb; 2024 Guidance Updated
Jul 22, 2024
07:26 AM EDT, 07/22/2024 (MT Newswires) -- IQVIA Holdings ( IQV ) reported Q2 adjusted earnings Monday of $2.64 per diluted share, up from $2.43 a year earlier. Analysts surveyed by Capital IQ expected $2.56. Revenue for the quarter ended June 30 was $3.81 billion, up from $3.73 billion a year earlier. Analysts surveyed by Capital IQ expected $3.79 billion....
Terex to Acquire Environmental Solutions Group From Dover for $2 Billion in Cash
Terex to Acquire Environmental Solutions Group From Dover for $2 Billion in Cash
Jul 22, 2024
07:16 AM EDT, 07/22/2024 (MT Newswires) -- Terex ( TEX ) said Monday that it has signed a definitive agreement to acquire Environmental Solutions Group from Dover Corporation ( DOV ) in a $2 billion all-cash transaction. ESG designs and manufactures refuse collection vehicles, waste compaction equipment, and associated parts and digital solutions. The company expects the transaction to close...
Copyright 2023-2026 - www.financetom.com All Rights Reserved