Abbott Laboratories ($ABT) will expand its manufacturing, as well as other operations, in India, though a dollar amount was not given by the pharmaceutical giant.
The company's new investment in operations comes after it has pumped an estimated $4 billion into India in the past 5 years, including the acquisition of the drug formulation business of Piramal Healthcare, BW Businessworld reports.
The investments will include expansion for manufacturing facilities, R&D, and a new corporate office to be located in the Bandra Kurla Complex in Mumbai.
"India is one of the most important places in the world for Abbott, and we're investing here accordingly," Miles White, Abbott's global chairman and CEO, said in a statement. "We intend to be a strong, committed, and contributing part of India's future."
Abbott, which has had a presence in India for more than a century, employs about 14,000 in the country, which ranks third for the company in sales. It has manufacturing facilities in Goa and Baddi for pharmaceuticals and one in Jhadadia in Gujarat that is focused on nutrition.
- read the BW Businessworld article
Special Report: Top 10 generics makers by 2012 revenue - Abbott