AstraZeneca invests Rs 176 Cr to boost GITC in Chennai

Global pharmaceutical giant AstraZeneca announced investments amounting to Rs 176 crore on Saturday, September 6, to expand its Global Innovation and Technology Centre (GITC) in Chennai.

The investment will be used to grow the company's technology and innovation teams, hiring specialists in advanced fields such as artificial intelligence, data analytics, machine learning, and data science.

This marks the company's third major investment in India in the last two years.

"This new investment reflects our ongoing mission to improve patient lives by embedding cutting-edge technologies into every aspect of our work. Chennai continues to evolve as a vital innovation hub, and our continued growth here demonstrates the state's boundless potential," AstraZeneca India Pvt Ltd Managing Director Siva Padmanabhan said.

This move is expected to help accelerate the development of new medicines and support digital healthcare solutions. Tamil Nadu's Chief Minister, M.K. Stalin, praised the investment. "This additional investment in Chennai is a testament to the state's reputation as a centre of excellence for global innovation," he said in a statement issued by the company.

AstraZeneca already has a strong presence in India with a focus on technology, global business services, and research and development. The company employs more than 5,000 people in the country, including those at the GITC.