 "Astec LifeSciences")
Astec LifeSciences, a subsidiary of Godrej Agrovet (GAVL), on Tuesday launched its Research and Development (R&D) centre in Rabale, Maharashtra.
The facility 'Adi Godrej Centre for Chemical Research and Development' will focus on innovation and developing sustainable and safe solutions for people and the environment and providing services to innovator companies in the contract development & manufacturing space, the company said in a statement.
"The CDMO (Contract Development and Manufacturing Organisation) market for chemicals in India is expected to grow at a CAGR of 12 per cent as against the global rate of 10 per cent. This underlines the potential in this sector, and our new facility will enable us to expand our offerings specifically in CDMO space," Astec LifeSciences Chief Executive Officer Anurag Roy said.
It will also make the company a partner of choice through its improved ability of providing end-to-end solutions to customers from the R&D stage to development to the commercialisation of products, he said.
"Slashing the time-to-market for innovative solutions, we are confident that by improving product development, providing access to advanced equipment and facilities, fostering collaboration, and driving innovation, the new R&D centre will cement us at the right place in the sector at the right time," he added.
The company is investing in building up its expertise and has hired over a 100 chemists and engineers with plans to double the same during 2023-24.
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