BioAsia 2024: CM Revanth announces next phase of Genome Valley

The Chief Minister Revanth Reddy said Hyderabad was the undisputed capital of life sciences in India and perhaps in the world.

Hyderabad: Chief Minister A Revanth Reddy announced that the next phase of Genome Valley would be established in 300 acres with an investment of Rs.2000 crore.

“We have already announced the establishment of 10 pharma villages with investment of Rs.1 lakh crore and this will develop infrastructure, create jobs, opportunities for entrepreneurs, and we will create over 5 lakh new jobs,” Revanth Reddy said at the inaugural ceremony of the 21st BioAsia conference here on Tuesday.

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The Chief Minister said Hyderabad was the undisputed capital of life sciences in India and perhaps in the world.

“One in three vaccines of the world are made in Hyderabad. In the last 20 years, BioAsia has helped position India and Asia Pacific as a focal point in life sciences,” Revanth Reddy said.

Stating that there was both anxiety and hope, he said if Covid was fear, Data and AI in Healthcare were hope. Hyderabad is the capital of research and startups and IT, he said.

The State government was committed to create the perfect ecosystem that includes policy, infrastructure and support. We must also confess my focus on driving MSMEs further, which are the bridge between the startups and corporates,” he said.

“Recently I met representatives from the Pharma sector to understand their challenges and we have promised to support them in the best way that we can. If you dream to reach the sky, we will ensure a rocket is in place to take you to the sky,” Revanth Reddy said.

“The government has also identified clusters for Greenfield Integrated Pharma Villages in Vikarabad, Medak and Nalgonda, all three different areas of Telangana for infrastructure and investment. We are employing a decentralization strategy to focus on these three different directions of Telangana,” Revanth Reddy said.

At the recently concluded World Economic Forum in Davos, the State Government got Rs. 40, 232 crores investment. “I am delighted that Takeda has decided to set up the manufacturing facility in Hyderabad in partnership with Biological E. – this facility will make 50 million doses of vaccines each year,” he said.

The Chief Minister also said Milteny Biotec had decided to set up an R&D facility in Hyderabad. “I would also like to congratulate Prof. Gregg Semenza, Nobel Prize Winner, for being awarded Genome Valley Excellence Award,” Revanth Reddy said.