Pharma giant AstraZeneca announced on 16 November that it is planning to exit the manufacturing site in Bangalore ‘in due course.’

In its regulatory filing, the company said that it would put up the manufacturing site for sale in a fully operational manner and is also on the lookout for a potential buyer who can also act as a Contract Manufacturing Organisation (CMO) for its products that are currently being manufactured and packaged at this site, which is subject to receipt of necessary statutory approval.

The Indian subsidiary of the company, in its July-September earnings, reported a 60.8% year-on-year increase in its net profit to Rs 52.4 crore, which was driven by exceptional gain and revenue that was at Rs 311 crore during the quarter.

AstraZeneca Pharma India is a listed subsidiary of AstraZeneca Pic, UK and handles the manufacturing, sales, and marketing of the company’s activities in India.

The company came into the limelight after the vaccine it had developed with Oxford was sold as Covishield in India and was used throughout the world as a preventive measure against the Covid-19 pandemic.