Mumbai: Abbott Laboratories will collaborate with Bangalore-based Biocon to establish a research and development centre to develop nutrition products in India.
Abbott Nutrition Centre, India will work with Syngene, the contract research arm of Biocon, to develop affordable products for maternal, child nutrition and diabetes care, the companies said in a joint press release.
"We have consistently invested in India and this world-class research and development centre will allow us to leverage local expertise and insights to develop products we need to successfully expand our portfolio here," said Rehan Khan, managing director, Abbott Nutrition India.
Indian nutrition market is estimated to be about 1,500 crore, according to an estimate by Motilal Oswal. In the past three years, global foods companies have set eyes on the Indian nutrition market for its sheer size.
In 2011, French diary giant Danone had acquired nutrition business of India's Wockhardt Pharma for 1,500 crore, after an unsuccessful attempt by Abbott to buy the business. Currently, Abbott sells Pediasure, one of the oldest available nutrition products in India.
No comments:
Post a Comment