Astrazeneca Pharma India jumps 8% after job cuts in biopharma unit

Astrazeneca Pharma India

30/12/2024 07:03

** Shares of Astrazeneca Pharma India Ltd  ASTR.NS  jump
8.3% to 6,888.90 rupees, set for its best day in 3 months
    ** Drugmaker confirms job losses in its biopharma unit but
does not disclose number of employees affected
    ** The Economic Times daily reported earlier in the day that
about 125 employees, or half of the biopharma unit's workforce,
is being laid off
    ** About 194,000 shares traded, 14.6x 30-day avg volume
    ** Stock extends YTD gains to ~25%, set for third-straight
year of growth


 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))