29 September 2011 Business
Industry news, October 2011
German drug discovery company Evotec will close its operations in Thane, India, and move them back to its Abingdon, UK, facility. The move will cost up to €4 million (£3.4 million), and the company’s 120 employees in India will lose their jobs. The firm said it is responding to its European customers’ increasing requirements to operate nearby.
Mario Polywka, Evotec’s chief operating officer, said that the company was due to move its Indian chemistry operations in June 2014. However, ' because of growing customer requirements for European-based activities, we came to the conclusion to exit our operations in India completely’.
Evotec moved into India in 2007, aiming to supply low-cost compound libraries to the pharmaceutical industry. But Polywka was adamant that moving projects back to the UK is a positive step for the company. ‘Through this realignment we will be able to most efficiently serve our customers, utilise our UK chemistry resources… and also realise cost savings.’
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