Biotechnology giant Amgen has leased about 500,000 sq ft of space in Hyderabad to establish its first global capability centre (GCC), doubling its office footprint in the city, said people aware of the deal. Amgen India's technology and innovation centre is located in the RMZ Nexity and Spire Tower in HITEC City. The company is a subsidiary of California-headquartered Amgen Inc. In the first phase, the company has taken 2.5 lakh sq ft, with another 2.5 lakh sq ft to be occupied in phase two, which is expected to be operational by the end of 2025,” the people cited earlier said, adding that the lease tenure is nine years, with a five-year lock-in period and a rental cost of about Rs 90 per sq ft. The GCC will drive the development of advanced technology solutions and digital capabilities, enhancing efficiencies across the company’s global operations. RMZ declined to comment on the deal. The Hyderabad GCC will focus on leveraging technology, artificial intelligence (AI), and data analytics to develop innovative healthcare solutions. It aims to drive digital transformation, streamline operations and accelerate research efforts, strengthening Amgen’s global footprint. Hyderabad has emerged as a prominent centre for life sciences and technology, consistently attracting significant investments from global corporations. In recent developments, Sanofi has announced an investment of Rs 3,600 crore to expand its GCC in Hyderabad. Similarly, AstraZeneca has committed Rs 250 crore and Medtronic has announced an investment of Rs 500 crore to establish their respective GCCs. As per industry estimates, India’s biotechnology sector will contribute 19% to the global biotech market by 2025, driven by its cost efficiency, flourishing bioeconomy and strategic positioning. It is expected to top $300 billion by 2030.
 

https://www.livehomes.in/news_letter