Abbott is deepening its commitment to India through several new initiatives, building on the Rs. 25,600 crore (US$ 4 billion) the company has invested in India over the last five years. The company has 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.
Abbott also intends to expand manufacturing capacity and R&D capability, employee development and community programmes in India.
Miles D White chairman and CEO of Abbott Inc., said “India is one of the most important places in the world for Abbott, and we’re investing here accordingly. 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 US$ 1 billion 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 Bengaluru for nutrition).
The company 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.
Abbott will increase its infrastructure, capabilities and staff at both its pharmaceutical and nutrition R&D facilities to drive innovations and new product introductions in India. The Mumbai pharmaceutical development facility will also expand its development of new solutions for people across the rest of the world.
Through expansion of capacity at the pharmaceutical manufacturing plant in Baddi, Abbott is working to meet growing needs in India and also export branded generic pharmaceuticals to other emerging markets in Southeast Asia and Africa.
Abbott is providing 1,500 small and rural dairy farmers with the support and infrastructure needed to increase their incomes and expand the supply of high-quality milk, with the aim of sourcing up to 80 percent of Abbott’s nutrition product ingredients locally. Working with nonprofit partners, Abbott will provide training on business skills and animal care, and building new milk chillers in 10 villages to help with efficient transport and storage.
Through the ‘Make India Thyroid Aware’ programme, 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.