By Rishika Sadam MUMBAI, Feb 20 (Reuters) – Indian drug manufacturer Sai Life Sciences plans to raise its headcount by more than 700 people, or about 20%, next financial year as it scales up capacity to meet rising global demand, the company said on Friday. The company, which makes most of its revenue from the […]
Health
Indian drugmaker Sai Life Sciences to boost headcount by about 20% amid global demand upswing
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By Rishika Sadam
MUMBAI, Feb 20 (Reuters) – Indian drug manufacturer Sai Life Sciences plans to raise its headcount by more than 700 people, or about 20%, next financial year as it scales up capacity to meet rising global demand, the company said on Friday.
The company, which makes most of its revenue from the U.S., Europe and the UK, currently employs about 3,400 people across India, the U.S. and the UK.
The move comes as India’s drug research, development and manufacturing sector is expanding rapidly as global pharma companies shift high‑value jobs to India due to cheaper production and a strong talent pool and as they seek to spread out their supply chains.
The Indian contract drug research and manufacturing sector is forecast to more than double to $57.94 billion between 2025 and 2031, according to market research firm Mordor Intelligence.
Sai Life’s new hires will be in scientific, technical and management roles in the southern Indian city of Hyderabad, where the firm operates its largest R&D centre to support drug development, data‑enabled drug discovery and commercial manufacturing scale‑up.
There is a “global supply-chain rebalancing” underway, the firm’s CEO and Managing Director Krishna Kanumuri said in a statement.
Sai Life has invested more than $219 million to expand manufacturing over the last six years.
($1 = 90.9700 Indian rupees)
(Reporting by Rishika Sadam; Editing by Dhanya Skariachan and Mrigank Dhaniwala)