Half of Global Workforce in India, Mylan Inc. (MYL) Tells DIPP
8/14/2013 7:24:28 AM
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In its latest submission to the department of industrial policy and promotion (DIPP) last week, US-based Mylan said that the company has serious plans to invest in India and that, as of date, half its global work force of 20,000 persons is also located in the country. In terms of turnover, about a seventh comes from its India operations, all of this in the space of less than seven years. If its proposal to acquire Agila Specialties for $1.6 billion through its India subsidiary is accepted, Mylan says it plans to increase domestic sales 12-fold by 2018, increase Agila’s capacity from 180 million units currently to 600 million units by 2017 and that it plans to become of the biggest local suppliers of injectables in the country.
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