Gilead Seeks Partnerships in India: Report

Gilead Sciences

(GILD) - Get Report

is looking for contract manufacturing and research partnerships in India, a senior executive at the U.S. drugmaker said, according to a report.

"We are considering contract manufacturing and research and development partnerships for formulations and process chemistry," Gregg Alton, Gilead's senior vice president and general counsel, said in an interview with the

Wall Street Journal

. He didn't name any potential partners.

Gilead wants to license more of its drugs to Indian companies and is working on a plan to offer its HIV drug, Viread, at a low cost, Alton told the newspaper.

For U.S. and European drugmakers looking to cut costs, India has become a major destination with manufacturing costs 30% to 40% lower and a large pool of trained chemists. India also has the largest number of factories approved by the U.S. drug regulator outside the U.S., according to the

Journal

.

This article was written by a staff member of TheStreet.com.