Please login to the form below

Not currently logged in
Email:
Password:

Evotec shutters chemistry operations to exit India

Thane facility to close with loss of 120 jobs

German drug discovery company Evotec is to close its Indian chemistry facility in the Maharashtra city of Thane with the loss of 120 jobs.

The company will wind down operations in September 2013 and carry out all its chemistry work at its Abingdon, UK facility, driven by “an increasing requirement to operate closer to the principal R&D laboratories of our major customers”.

The realignment of its discovery chemistry operations will come with a one-off cost to Evotec of up to €4m, which it will book in the third quarter, but the company said revenues, profitability and cash guidance for 2013 would not be affected.

Dr Mario Polywka, Evotec's chief operating officer, said: “Evotec was due to relocate its Indian chemistry operations in June 2014. During the due diligence in finding a new facility and because of growing customer requirements for European-based activities we came to the conclusion to exit our operations in India completely.

“Through this realignment we will be able to most efficiently serve our customers, utilise our UK chemistry resources and capabilities and also realise some cost savings. Unfortunately the impact is that we must say goodbye to a first-class work force in Thane that has so ably supported our customers over the last four years.”

Evotec first began operating in India through a joint venture with DIL subsidiary Research Support International Limited (RSIL) to design, synthesise and manage compound libraries as a service.

It subsequently took full control of the medicinal chemistry venture, by then known as Evotec (India) Private Limited, in September 2011, when its intention had been to further grow and expand the operation.

9th July 2013

From: Research

Share

Tags

Featured jobs

Subscribe to our email news alerts

PMHub

Add my company
Random42 Scientific Communication

Random42 is the world's leading medical animation company. Over the past 25 years we have produced core digital assets for...

Latest intelligence

healthtech.JPG
The rise of Digital Doctors: the changing face of UK health tech provision
GK's latest research has shown explosive growth in apps providing online GP, prescription management and mental health services. Read the full report here....
blood
‘How is your day?’
The initiative that shows how plasma protein therapies improve lives...
women
Advancing women in healthcare
Fostering the next generation of leaders...

Infographics