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Boston Scientific to make India biggest product development hub outside US

Livemint:  June 13, 2016

Hyderabad: US-based medical devices maker Boston Scientific Corp., plans to make India its biggest research and development (R&D) hub outside the US, as it plans to develop devices such as stents, catheters and pacemakers at its Gurgaon facility for the Asia Pacific, Middle East and African markets.

“As one of seven strategic global R&D sites for Boston Scientific, the R&D center in India has the potential to be the largest outside of the US,” said Prabal Chakraborty, vice president and managing director at Boston Scientific Company India Pvt.Ltd, the Indian unit of Boston Scientific.

“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.

Boston Scientific said it plans to roll out products from this facility by 2017.

The company which had global sales of around $7.48 billion in 2015, is seeking to expand its market share and increase sales through geographic expansion, especially in high-growth emerging markets such as India, with rising coronary angioplasties resulted from a surge in cardiovascular diseases.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.

x IBEF : India Brand Equity Foundation