Updated to correct that the facility will focus on R&D, but will not be the largest OUS facility for BSX.
Boston Scientific (NYSE:BSX) plans to open a new facility in Gurgaon, India, with a focus on research and development that could make it 1 of the company’s largest, according to a new report.
“As 1 of 7 strategic global R&D sites for Boston Scientific, the R&D center in India has the potential to be the largest outside of the U.S.,” Prabal Chakraborty, managing director of Marlborough, Mass.-based Boston’s India business, told the Live Mint website.
“The R&D center will focus on developing products to meet the clinical needs in high-burden diseases specific to emerging markets in the Asia Pacific, Middle East and Africa regions, and to serve as a global product engineering site,” Chakraborty said.
The Gurgaon facility is slated to go on line by 2017, according to the website.
Boston Scientific said last week that the next stage in the turnaround engineered by chairman & CEO Mike Mahoney will involve an unspecified number of layoffs, although its overall headcount will likely remain “relatively unchanged.” The reorganization aims to cut pre-tax expenses by $115 million to $150 million by the end of 2020.
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