Mumbai, Feb. 12 -- AstraZeneca India is set to divest its 64-acre production facility in North Bengaluru as part of a global reassessment of its manufacturing and supply chain operations. This initiative aligns with the parent company's broader strategy to optimise resources through corporate land monetization.
According to the reports in the media, the proposed transaction is estimated to bring in over Rs 32 billion. AstraZeneca has reportedly engaged global property consultants to identify potential buyers for the land, which is valued at more than Rs 500 million per acre. Despite previous attempts to sell, the high valuation had posed challenges in securing a deal.
The company intends to transfer the facility as a fully operational unit and is actively searching for a buyer who can also serve as a contract manufacturing organization (CMO) to continue its existing production and packaging operations, subject to necessary approvals.
A key part of AstraZeneca Pharma's global network, the Bengaluru facility is one of nine sites dedicated to clinical trial design and execution. The planned sale underscores AstraZeneca's broader strategic shift to streamline global operations while maintaining critical pharmaceutical production through external partnerships.
Published by HT Digital Content Services with permission from Construction World.