Business Daily from THE HINDU group of publications
Friday, Nov 10, 2006
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Business Daily from THE HINDU group of publications Friday, Nov 10, 2006 ePaper |
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Research & Development Info-Tech - Alliances & Joint Ventures States - Andhra Pradesh Novartis signs up with AP for IT cum R&D centre Our Bureau
Hyderabad , Nov. 9 The fourth largest global pharmaceutical company Novartis on Thursday has signed up with Andhra Pradesh to establish an IT-cum-R&D support centre near here. The $32.2-billion pharma major Novartis entered into a memorandum of understanding (MoU) with the Andhra Pradesh Information and Technology and Communication (IT&C) here today aimed at establishing and expanding medical care related IT/ITES and R&D activities in India. However, details of their plans and the nature and scope of the work they expect to do from Hyderabad has not yet been announced. The Secretary, IT&C, Government of Andhra Pradesh, Mrs Ratna Prabha, in a statement said that the company, which has presence in India from over 60 years, was impressed with the State initiatives and has zeroed in on Sultanpur area around Hyderabad, and sought allotment of about 150 acres of land. As per their plans, Novartis plans to initially employ over 1,000 professionals in the proposed centre, and gradually ramp this up to 3,000-5,000 people and has hinted to the State about the prospect of investment of Rs 300-500 crore, the statement said. The IT&C Department believes that an anchor client like Novartis would potentially help others to locate their centres in and around Hyderabad.
More Stories on : Research & Development | Alliances & Joint Ventures | Andhra Pradesh | Pharmaceuticals
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