BENGALURU: AstraZeneca Pharma India Ltd on Thursday informed the BSE that its board has decided to close the Active Pharmaceutical Ingredient Unit (API Unit) located at Yelahanka in Bengaluru, citing low demand for the product in the export markets.
The company, however, did not disclose what it intended to do with the employees at the unit.
The company was unavailable for its comments.
"The board took the decision as Terbutaline Sulphate (TBS) was the last API to be manufactured at the API unit and no other API manufacturing activity is planned to be carried out at this unit in the future," it added.
The decision was taken following an application to the Drug Controller General of India (DCGI) to withdraw the manufacturing licence for TBS, AstraZeneca said. The company’s tablet manufacturing plant that started commercial operations in 2013 will continue to operate at the said location, said sources.
Shares of AstraZeneca Pharma India on Thursday closed down 1.57 per cent at `1,107 per share on the BSE,from its previous close.