According to a recent Economic Times report, Danish pharmaceutical company Lundbeck that operates in 50 countries is shutting down its marketing and sales operations in India. In its eMail to the Indian media, Lundbeck mentions that the shutdown is part of its business strategy. The Indian arm, based in Bengaluru, employed around 100 people for its sales and marketing operations.
“Lundbeck has decided to exit its operations in India, in line with our strategy. We will continue to serve the market in India per local regulatory requirements, however, the medicines that we offer in India also have suitable alternatives,” the company mentions in its press statement.
Lundbeck released its patented antidepressant Brintellix in the domestic market in 2018. The Danish company also manufactures drugs for other disorders including schizophrenia, Parkinson’s disease, Alzheimer’s disease, migrane, and depression. According to the data on the firm’s website, it has treated millions of people for mental illness since it started manufacturing drugs for mental ailments 70 years ago.
With headquarters in Denmark, Lundbeck valued at US$ 2.7 billion, has presence in over 50 countries across the globe. With research labs in the US and Denmark, and production centers in Italy, France and Denmark, Lundbeck employs a workforce of 5,600.
