Updated May 7th, 2022 at 13:49 IST
Pfizer sets up global drug development center at IIT Madras Research Park campus
Pfizer has established a 'global drug development center' in the Indian Institute of Technology (IIT) Madras Research Park in Chennai, Tamil Nadu
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In a noteworthy effort to consolidate crucial research and development skills, pharmaceutical major Pfizer has established a 'global drug development center' in the Indian Institute of Technology (IIT) Madras Research Park in Chennai, Tamil Nadu. On Thursday, May 5, Tamil Nadu Health Secretary J Radhakrishnan lauded Pfizer, for setting up the new drug development center on the research campus, stating that the initiative would help Indian scientists to create a global footprint in the area of medical research and development, ANI reported.
Speaking to ANI, Radhakrishnan avered that this center is the first such facility of its kind in Asia and that it has the potential to reduce the pricing for drugs in future. He further noted that students, scientists as well as leading start-ups will benefit from this, and so will business and academia.
Pfizer inaugurated a global drug development centre in IIT Madras Research Park campus— ANI (@ANI) May 6, 2022
This is first of its kind in Asia. Through this, students, scientists&leading industry start-ups will foster great collaboration b/w industry & academy: J Radhakrishnan, TN Health Secy (05.05) pic.twitter.com/Cuxeb46BT0
Speaking further about the initiative, the Tamil Nadu Health Secretary said, “I am delighted that Pfizer has set up its global drug development center in Chennai. This is the first of its kind in Asia. Tamil Nadu has always contributed to such research. The cost of drugs can come down, new molecules can be detected. It will help in collaboration between industry and academia," reported ANI.
Pfizer has invested $20 million on the research and technology center
Pfizer has spent nearly $20 million (or above Rs 150 crore) on the IIT Madras Research Park's 61,000-square-foot research and technology center. While this center will be part of a worldwide network of 12 global centers, it would be Pfizer's first and only one in Asia at this time, ANI reported.
Meanwhile, S Aparna, Secretary, Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers, Government of India, stated earlier during the launch event that pharma businesses must come up with creative solutions to solve the new challenges that healthcare professionals and patients confront. Furthermore, she went on to add that Pfizer's Chennai center is a move in the right direction.
Aparna also underscored that such attempts to develop and expand worldwide work through this center will enable information exchange, which they believe, will improve patient outcomes in the future. It would also allow Pfizer to make use of India's enormous poll of talent as well as the IIT Madras Research Park's best-in-class facilities, she added.
Apart from this, the capabilities of the center will include the creation of differentiated items' active pharmaceutical ingredients (APIs) and finished dosage forms (FDFs), according to a report from BioSpectrum. The center will create and support goods for global markets as well as Pfizer's production facilities across the world.
Published May 7th, 2022 at 13:49 IST