The Nasdaq traded generics pharmaceutical company Mylan said it was keen to expand its presence in the southern state of Andhra Pradesh with an additional investment of $5 billion. Rajeev Mukundan, senior vice-president (legal), Mylan, who was part of a delegation representing the US-India Business Council, informed Chandrababu Naidu, the chief minister of the state, about the company’s latest investment plans.
After entering India in 2007, Mylan has expanded by making a series of acquisitions. It has research and development facilities for active pharmaceutical ingredients and other products at Hyderabad, and injectibles facilities at Bangalore. The company employs about 1,000 scientists in India.