Chennai, May 4 (IANS): Global pharma giant Pfizer, which developed the mRNA-based vaccine against Covid, on Wednesday announced setting up a global drug development centre to boost critical research and development (R&D) capabilities in India.

The 61,000 sq ft research and technology centre will be set up at the Indian Institutes of Technology (IIT) Madras Research Park in Chennai, the company said. Pfizer said it has invested more than Rs 150 crore in it.

While this centre will be a part of a network of 12 global centres set up worldwide, it is the first and only one at present being set up by Pfizer in Asia.

"We are confident that this research centre would be aligned with our larger national objective to improve the availability, affordability and access to drugs throughout the world from India by building on the convergence with digital solutions available here, and leveraging academic collaborations," said S. Aparna, Secretary, Department of Pharmaceuticals, under the Ministry of Chemicals and Fertilisers, during the launch.

The centre will include the development of both, active pharmaceutical ingredients (APIs) and finished dosage forms (FDFs) of differentiated products such as complex/value-added formulations, controlled-release dosage forms, device-combination products, lyophilised injections, powder-fill products, and ready-to-use formulations.

It will also develop and support products in global markets and Pfizer's manufacturing centres worldwide.

"Pfizer's drug development centre in the IIT Madras Research Park is a positive opportunity to establish truly one of the most advanced laboratories that Pfizer is setting up for R&D in the aforementioned disciplines anywhere in the world, in Chennai and an opportunity to showcase the potential of R&D in the country," said S. Sridhar, Country Manager, Pfizer India, in a statement.