 "AstraZeneca Pharma India to close Bengaluru API unit")
The Board of Directors of the company at its meeting held on December 2, 2015 has decided to close the Active Pharmaceutical Ingredient (API) Unit at Yelahanka in Bengaluru, AstraZeneca Pharma India said in a filing to BSE.
The company, however, did not disclose what it intended to do with the employees working at the respective unit.
"The Board took the decision as Terbutaline Sulphate (TBS) was the last API to be manufactured at the API unit and no other API manufacturing activity is planned to be carried out at this unit in the future," it added.
The decision was taken following an application to the Drug Controller General of India (DCGI) to withdraw the manufacturing licence for TBS, AstraZeneca Pharma India said.
The product was manufactured primarily for export and the company applied to withdraw the licence following low demand in the export markets.
The company's tablet manufacturing plant that started commercial operations in 2013 will continue to operate at the above mentioned location, AstraZeneca said.
Established in 1979, AstraZeneca India is present in seven areas of healthcare - Cardiovascular, Diabetes, Oncology, Respiratory & Inflammation, Infection, Local Anesthesia and Maternal Healthcare.
Shares of AstraZeneca Pharma India today closed at Rs 1,107 per scrip on BSE, down 1.57% from its preious close.