08:03 AM EST, 02/24/2025 (MT Newswires) -- (Updates to include company statement in last paragraph.)

Amgen ( AMGN ) will invest an initial $200 million this year in its new technology center in southern India, Reuters reported Monday, citing Chief Executive Robert Bradway.

The US drugmaker has also planned "significant" investments for future years as part of its plan to expand its presence in India, according to the report.

By the end of the year, the site in Hyderabad city is expected to have a workforce of roughly 2,000, Reuters reported, citing Som Chattopadhyay, national executive for India at Amgen ( AMGN ).

Amgen ( AMGN ) confirmed the plans in a statement sent to MT Newswires, saying that the investment would support the acceleration of its digital capabilities through AI and data science.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)