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Pfizer invests USD 20 million in the research and technology center at IIT Madras

The company has invested USD 20 million (INR 150+ crore) in the 61,000 sq ft research and technology center at the IIT Madras Research Park

ANI | Updated on: Friday, May 06, 2022, 02:28 PM IST

IIT Madras
IIT Madras
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Chennai: Pfizer has set up a global drug development center at IIT Madras Research Park in Chennai, Tamil Nadu. It is the only center set up by Pfizer in Asia and is in the network of 12 other global centers. The company has invested USD 20 million (INR 150+ crore) in the 61,000 sq ft research and technology center at the IIT Madras Research Park.

Tamil Nadu Health Secretary J Radhakrishnan lauded the inauguration of a global drug development center and said that this would play a role in providing an opportunity to the Indian Scientists to establish a global footprint in the field of medical research and development.


"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," he said.

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Published on: Friday, May 06, 2022, 02:28 PM IST