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The Indian arm of UK-headquartered pharmaceutical giant AstraZeneca has laid off more than 125 employees from its biopharmaceutical business unit, according to people aware of the development. ET Year-end Special Reads What kept India's stock market investors on toes in 2024? India's car race: How far EVs went in 2024 Investing in 2025: Six wealth management trends to watch out for Among them are some 20 senior managers and 110 executives at various levels in the sales department, the people cited earlier told ET. The downsizing has affected employees across the board and includes those having put in 15 years in the company, they said. AstraZeneca India confirmed that the headcount has changed but did not say how many jobs have been cut. "In the biopharmaceutical business unit, we are furthering efforts to deliver the next generation of therapeutics in our pipeline, focusing on specialists, science and innovation, while improving access of our existing portfolio in specialist disease areas," a company spokesperson said in an email response to ET's query. The company statement said, "This has led to strategic restructuring of our biopharmaceutical team impacting certain roles. We are fully cognizant of the impact this has caused, and our first responsibility remains towards our employees and meeting the needs of patients." 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The unit sold some of the old, legacy brands such as anti-cholesterol brand Crestor, clot buster Brilinta and Forxiga, one of the best prescribed brands for the treatment of diabetes. Along with a few other brands, the annual sales from the biopharma unit were around ₹400 crore, according to an industry source. However, the loss of patent exclusivity of these brands in India resulted in a deluge of generic drugs in the market. "When dapagliflozin (Forxiga) lost its patent rights four years ago, at least 250 generic substitutes came in. It gets tough for MNCs to compete on pricing," the source said. However, AstraZeneca's ambitions for India remain. A significant traction is seen in its new wave of patented drugs like Tagrisso for lung cancer, Koselugo for a rare genetic disorder, Breztri (drug to treat COPD) and Enhertu used in the treatment of breast and gastric cancer. In that direction, AstraZeneca said in the statement, "Our aspiration to be pioneers in science has increased our focus on specialist disease areas where we can make the most meaningful difference in helping people with cancer, other chronic and rare diseases." Over the last few years, AstraZeneca has seen a series of job cuts in its core India operations, while it has continued to invest and ramped up capacity at its global capability centres at Bengaluru and Chennai to support research and innovation efforts. Nominations for ET MSME Awards are now open. The last day to apply is December 31, 2024. Click here to submit your entry for any one or more of the 22 categories and stand a chance to win a prestigious award. (You can now subscribe to our Economic Times WhatsApp channel )
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