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Abbott Committed to India’s Growth Story | ||
New Delhi, Delhi, India - Company increases its investments in India across R&D, manufacturing, people and community programs - Abbott invests in New Mumbai corporate office in the Bandra Kurla complex
Abbott, the largest health care product company in India, is deepening its commitment to India through several new initiatives, building on the Rs 25,600 crore ($4 billion USD) the company has invested in India over the last five years. The company today announced plans to invest in a new Mumbai corporate office in the Godrej BKC building in the Bandra Kurla Complex that will allow it to consolidate existing offices and operations in Mumbai into a single location. These topics were a focus at a meeting of the company’s Board of Directors held in India in mid-September, demonstrating the importance of the country to Abbott.
Abbott also intends to expand manufacturing capacity and R&D capability, employee development and community programs in India.
“India is one of the most important places in the world for Abbott, and we’re investing here accordingly,” said Abbott Chairman and CEO Miles D. White. “We intend to be a strong, committed, and contributing part of India’s future.”
Abbott has been a part of India for more than 100 years and today has 14,000 employees, a portfolio of branded generic pharmaceuticals, nutritionals, medical devices and diagnostics, and sales of more than $1 billion USD in the country. India is among the top three countries in sales for the company, which has invested in three manufacturing facilities (Goa and Baddi for pharmaceuticals, and Jhagadia for nutrition) and two R&D facilities (Mumbai for pharmaceuticals and Bangalore for nutrition).
Investments in India Abbott is set to further deepen its commitment in India. As immediate steps, Abbott is:
Through accurate diagnosis and effective treatment, people with hypothyroidism can lead healthy lives and may decrease the likelihood of complications like elevated cholesterol levels, increased blood pressure and depression; and pregnant women can protect their babies from increased developmental risks. Through the ‘Make India Thyroid Aware’ program, Abbott in partnership with the Indian Thyroid Society, plans to reach out to over 2 million people through diagnosis and education camps across India in 2015 and 2016.
Abbott in India Abbott has four primary businesses in India – diagnostics, medical devices, nutritionals and branded generic pharmaceuticals – each a leader in significant and important parts of health and well-being. In particular, Abbott has the largest pharmaceutical business of any multinational company in India, with reach across rural and urban India. The company’s portfolio of reliable, quality products in India – as well as new innovations and technologies – are aligned to the specific health needs of India. “At Abbott, our success comes from ‘acting local’ and ‘thinking global’ – leveraging a heritage of more than 100 years and an in-depth understanding of the Indian culture, people and their unique needs, while benefiting from the support of one of the world’s leading healthcare companies,” said Bhasker Iyer, vice president of Abbott’s pharmaceuticals business and the country management representative in India. “Our India-relevant, affordable and high-quality portfolio of products – combined with operations that cover the length and breadth of the country – positions Abbott well to make a powerful difference in improving health and well-being in India.”
About Abbott: At Abbott, we’re committed to helping people live their best possible lives through the power of health. For more than 125 years, we’ve brought new products and technologies to the world — in nutrition, diagnostics, medical devices and branded generic pharmaceuticals — that create more possibilities for more people at all stages of life. Today, 73,000 of us are working to help people live not just longer, but better, in the more than 150 countries we serve.
In India, Abbott has 14,000 employees working in manufacturing, research and development, logistics, sales and marketing and is headquartered in Mumbai.
Connect with us at www.abbott.com and www.abbott.in, on Facebook at www.facebook.com/Abbott and on Twitter @AbbottNews and @AbbottGlobal. |
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