The Deal is an Expansion of Infosys' Existing Relationship with AstraZeneca and Covers a Wide Range of Application Maintenance Services.
London, UK - December 15, 2008
Infosys Technologies Ltd., a leading global technology and consulting services organization, today announced that AstraZeneca has awarded Infosys a five year, multi-million dollar global sourcing deal. AstraZeneca, headquartered in London, is one of the world's leading pharmaceutical companies with sales of $29.55 billion.
Under the agreement, Infosys will deliver end-to-end application maintenance services to AstraZeneca's global operations in areas such as manufacturing, supply chain, finance, human resources and other corporate functions. The deal is a part of AstraZeneca's transformation initiative to accelerate innovation and bring products to market faster, and will help improve its operational efficiency significantly.
"We chose Infosys as a strategic partner for its understanding of the rapidly shifting dynamics in the pharmaceutical industry," said Richard Williams, Global CIO at AstraZeneca. "The combination of Infosys' outsourcing expertise, technology leadership and proven record in rationalizing and standardizing business process were all contributing factors to our decision. We have confidence in Infosys' ability to deliver a flexible operating model to address our changing business needs more efficiently.
Infosys is delivering the services through a global shared-services model that offers fixed price for outcome-based deliverables, and flexible, unit pricing for managing changes in the base scope of the engagement. This innovative commercial model will allow AstraZeneca greater operational flexibility, lower risk and better spend control. AstraZeneca will now benefit from improved asset utilization, standardized business processes, globally consistent service quality and a predicable cost structure by leveraging Infosys' enterprise frameworks, process and architecture consulting and global delivery model.
AstraZeneca is transforming its operations through multiple phases, with the first across the United Kingdom and the Nordics, and the subsequent phases focusing on the United States, Europe, Latin America and Asia. In addition, as part of the transition, AstraZeneca employees in Sweden and the UK will be rebadged to Infosys, thereby strengthening its global delivery network.
Commenting on the deal, Infosys Chief Executive Officer Kris Gopalakrishnan said, "Pharmaceutical companies are launching transformation initiatives to improve R&D productivity, focusing on their core competencies. AstraZeneca is leading this trend, and this programme will help us support its business growth and operational excellence goals. This is another significant step in our long standing partnership with AstraZeneca."
AstraZeneca is a major international healthcare business engaged in research, development, manufacturing and marketing of prescription pharmaceuticals and supplier for healthcare services. AstraZeneca is one of the world's leading pharmaceutical companies with healthcare sales of US $29.55 billion and is a leader in gastrointestinal, cardiovascular, neuroscience, respiratory, oncology and infection product sales. AstraZeneca is listed in the Dow Jones Sustainability Index (Global) as well as the FTSE4Good Index. For more information visit www.astrazeneca.com.
Infosys (NASDAQ: INFY) defines, designs and delivers IT-enabled business solutions that help Global 2000 companies win in a Flat World. These solutions focus on providing strategic differentiation and operational superiority to clients. With Infosys, clients are assured of a transparent business partner, world-class processes, speed of execution and the power to stretch their IT budget by leveraging the Global Delivery Model that Infosys pioneered. Infosys has over 1,00,000 employees in over 50 offices worldwide. Infosys is part of the NASDAQ-100 Index and The Global Dow. For more information, visit www.infosys.com
Statements in connection with this release may include forward-looking statements within the meaning of US Securities laws intended to qualify for the "safe harbor" under the Private Securities Litigation Reform Act. These forward-looking statements are subject to risks and uncertainties including those described in our SEC filings available at www.sec.gov including our Annual Report on Form 20-F for the year ended March 31, 2008, and our other recent filings, and actual results may differ materially from those projected by forward-looking statements. We may make additional written and oral forward-looking statements but do not undertake, and disclaim any obligation, to update them.
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