New Delhi: pharmaceutical firm AstraZeneca Pharma will exit manufacturing As part of the “Global Strategic Review”, at its sole plant in Bangalore. A company with revenues of over Rs 1000 crore feels it can extract more value for its shareholders by transferring core manufacturing To a contract manufacturer.
As part of AstraZeneca’s ongoing strategic review of its global manufacturing and supply network, the company intends to exit Construction Site in Bengaluru, in due course, it said in a stock exchange filing.
The Company will put the manufacturing site up for sale in a fully operational manner and will commence the search for a buyer who will also act as a Contract Manufacturing Organization (CMO) for the Company’s products currently manufactured or packaged at this site. Possible, provided necessary materials are available. Statutory approval, it added.
As part of AstraZeneca’s ongoing strategic review of its global manufacturing and supply network, the company intends to exit Construction Site in Bengaluru, in due course, it said in a stock exchange filing.
The Company will put the manufacturing site up for sale in a fully operational manner and will commence the search for a buyer who will also act as a Contract Manufacturing Organization (CMO) for the Company’s products currently manufactured or packaged at this site. Possible, provided necessary materials are available. Statutory approval, it added.
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