- 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
New Delhi, 30 September 2015 – 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:
- Investing in a new Mumbai office headquarters for employees: Abbott will occupy more than 400,000 sq. ft. of office space at the Godrej BKC building in Mumbai’s Bandra Kurla Complex, housing more than 1,500 employees. The consolidation of existing offices and operations will bring together all of Abbott’s businesses in Mumbai into one location. Abbott anticipates occupying the building starting in 2016. The company is investing in a leadership pipeline and skill-building and development of its employees.