Pfizer has set up its global drug development centre at the Indian Institute of Technology-Madras Research Park at an outlay of over Rs 150 crore.

The centre, which employs 250 scientists and technicians, would develop innovative formulations, small molecules and active pharmaceutical ingredients (APIs).

According to the company, the centre would develop and support products in global markets and Pfizer's manufacturing centres, worldwide. The facility is among 12 centres established worldwide, and the first in Asia.

Pfizer India, country manager, S Sridhar said, ''The Pfizer's drug development centre at the IIT M Research Park is a positive opportunity to establish truly one of the most advanced laboratories that it is setting up for research and development, in Chennai and opportunity to showcase the potential of R&D in the country.''

The company has invested US $ 20 million in the centre spread across 61,000 square feet at the IIT-M Research Park.

The Centre integrates two functions under the export-oriented undertaking of Pfizer -- Pharmaceutical Sciences (PharmSci) and Global Technology and Engineering (GT & E) Centre of Excellence.

While the Pharmaceutical Sciences division has been set up for dedicated development of anti-infectives, oncolytics, sterile injectables, the Global Technology and Engineering Centre of Excellence would be on active pharmaceutical ingredients process and manufacturing technology to supply medicines to patients.

S Aparna, Secretary, Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers, Government of India said, “There is a growing need for pharma companies to provide innovative solutions that address the new challenges that healthcare providers and patients are facing. This new centre by Pfizer in Chennai is a step in that direction. Such efforts to strengthen and expand global work through this centre will allow for knowledge sharing that we hope will improve patient outcomes in the years to come. It will also allow Pfizer to leverage and showcase the large talent pool in India as well as the best-in-class infrastructure available at the IIT Madras Research Park. We are confident that this Research centre would be aligned with our larger national objective to improve the availability, affordability and access to drugs throughout the world from India by building on the convergence with digital solutions available here, and leveraging academic collaborations.”

 ''We are pleased to welcome the Pfizer global drug development centre to IIT-Madras Research Park. We believe the proximity of Pfizer to IIT-M, student, scientists and other leading industry start-ups will foster great collaboration between industry and academia,'' IIT-M Research Park, President, Ashok Jhunjhunwala said.