Aragen Life Sciences to invest Rs 2,000 crore for expansion of Mallapur facility in Telangana
The expansion, primarily targeted towards drug discovery, development and manufacturing, is expected to create 1,500 new jobs.
Hyderabad: Drug manufacturing major Aragen Life Sciences announced plans for expansion of its Mallapur facility with a fresh investment of Rs 2,000 crore, at Hyderabad in Telangana. The expansion, primarily targeted towards drug discovery, development and manufacturing, is expected to create 1,500 new jobs.
The announcement was made during a meeting between Chief Minister A Revanth Reddy and Manni Kantipudi, whole time Director and CEO of Aragen Life Sciences.
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The expansion of Aragen Life Sciences further solidified Hyderabad’s status as a hub for CROs (Contract Research Organisations) in India. Hyderabad serves more than 1,000 innovators globally in their efforts to discover and develop new drugs and devices.
Aragen boasts of more than 20 years of experience providing a range of contract research, development and manufacturing services across the drug development continuum, with a focus on early-stage discovery and development of new molecular entities (NMEs).
Speaking on the occasion, Chief Minister Revanth Reddy welcomed the massive investment plans of Aragen Life Sciences, a global leader in the pharma sector, in Hyderabad. “This shows the State government’s resolve to build a next-level vibrant ecosystem, extraordinary infrastructure and showcasing our rich talent pool that can drive innovation to the works,” he said.
Manni Kantipudi said that they were excited about five-year expansion plans and have decided to invest Rs 2,000 crore in Hyderabad, Telangana. He said the Chief Minister’s leadership inspired confidence that Hyderabad will consolidate its undisputed national status as headquarters for CROs and CDMOs over the years.
Hyderabad offers modern infrastructure, access to the best scientific talent in the country, a strong network of suppliers, and an ecosystem that allows for innovation in digital technologies, he said. “We continue to see this industry grow and flourish in Telangana. We want to thank the Telangana government for their strong support and approval of our expansion plans and look forward to completing these expansions in the coming years,” he added.
