French drugmaker Sanofi said on Monday it will expand its global capability centre (GCC) in the southern Indian city of Hyderabad, and increase its workforce to more than 4,500 employees.
\nThe centre currently employs over 2,600 people.
\nThe biopharmaceutical company said that the expansion would be supported by a “multi-hundred-million” investment, but did not disclose the exact size of the amount. It also did not specify a timeframe for the hiring.<\/p>\n
n 2024, Sanofi said it would invest 400 million euros ($474.60 million) in its India GCC by the end of the decade.
\nMultinational companies are increasingly setting up so-called global capability centres in India, which have evolved from low-cost back offices to high-value innovation hubs that support operations, finance, research and development.
\nIndia hosts more than 1,700 GCCs, employing over 1.9 million professionals, according to real estate consultancy Anarock.
\nThe consultancy projects the GCC market to reach $105 billion\u2013$110 billion by 2030, expanding at a 10% CAGR, and estimates the number of centres could rise to more than 2,400 by then, driven by a larger talent pool and broader sectoral diversification.
\nThe latest hiring would include specialists in research and development, artificial intelligence and data innovation, data analytics, medical affairs, commercial capabilities and corporate functions, Sanofi Healthcare India, part of the global group, said in a statement.
\nThe announcement comes as Hyderabad prepares to host its annual BoiAsia conference on February 17 and 18, where executives from global drugmakers, including Eli Lilly, Sanofi, Novo Nordisk and Merck, will discuss expanding research and the growth outlook for India’s pharma market.<\/p>\n","protected":false},"excerpt":{"rendered":"
French drugmaker Sanofi said on Monday it will expand its global capability centre (GCC) in the southern Indian city of Hyderabad, and increase its workforce to more than 4,500 employees. The centre currently employs over 2,600 people. The biopharmaceutical company said that the expansion would be supported by a “multi-hundred-million” investment, but did not disclose […]<\/p>\n","protected":false},"author":2,"featured_media":2630,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37],"tags":[836,834,835],"class_list":{"0":"post-2629","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-sitefansalaran-industry-news","8":"tag-500-employees","9":"tag-drugmaker-sanofi-to-expand-india-gcc","10":"tag-increase-workforce-to-over-4"},"yoast_head":"\n