* To target women, children, diabetes patients
* R&D centre to start by June; have 50 scientists
* India's $1 bln nutrition market relatively nascent
May 3 Abbott Laboratories has partnered
Indian biotechnology company Biocon Ltd to develop
nutrition products for India, as the U.S. drugmaker steps up its
push to tap a potentially big market.
Abbott will build a research and development centre in
Bangalore along with Syngene, a unit of Biocon, to develop
affordable nutrition products for women, children and diabetes
patients, the U.S. company said on Thursday.
The centre is expected to start operations in June and will
have 50 scientists, the drugmaker said without disclosing
details of investment.
"India is a priority market for investment, growth and
innovation," Robert Miller, divisional vice president, global
R&D, Abbott Nutrition, said in a statement.
Abbott is the largest drugmaker by market share in India
after it acquired Piramal Healthcare's formulations
business in 2010 for $3.72 billion.
The nutrition market in India, home to more than 1.3 billion
people, is relatively nascent and valued at about $1 billion,
according to the lobby group Federation of Indian Chambers of
Commerce and Industry.
A rapidly expanding middle-class, increasing incidences of
diabetes and longer life spans are strong factors to drive
demand for nutrition products.
"Our strategic collaboration with Syngene will accelerate
the design, development and delivery of affordable nutrition
products in India," Miller said.