Danish pharma company Lundbeck downs shutters in India

Danish pharmaceutical company Lundbeck that develops drugs for targeted brain diseases, including depression, schizophrenia, Alzheimer's disease, Parkinson's disease and migraine is exiting India as part of the company's global strategy.

The $2.7 billion Lundbeck, which is based out of Bengaluru, has a sales and marketing team of around 100 people in the country. Lundbeck had brought out its patented anti-depressant drug into India a few years ago.

"Lundbeck has decided to exit its operations in India, in line with our strategy. We will continue to serve the market in India per local regulatory requirements, however the medicines that we offer in India have suitable alternatives. Patients should speak to their doctors about these alternatives if needed," the company said in an email statement to ET.

The company specializes in developing treatments for brain diseases and has treated millions of people for more than 70 years as per their website.

Lundbeck is headquartered in Denmark and located in more than 50 countries around the world. It has production facilities in Denmark, France, and Italy, and research centers in Denmark and the US. The company has employees in more than 50 countries, and employs approximately 5,600 people across the value chain.