Hyderabad: Hyderabad-based biotechnology company GeneSys Biologics is investing about Rs 400 crore in Genome Valley, Shameerpet. Of this, the company has already invested Rs 100 crore by setting up a biosimilars unit at Genome Valley, which the company inaugurated on Thursday. The present unit will cater to emerging markets and the upcoming unit will serve advanced regulated markets.
The integrated drug development facility will make insulin biosimilars across the value chain from research and development to commercial manufacturing. A biosimilar is a biologic product that is approved based on demonstrating that it is similar to a reference biologic product and has no clinical difference from the reference product. The new facility will contribute towards the company’s global clinical programme for multiple products. It will also cater to the future commercial requirements of India and other emerging markets.
The four-acre facility houses a research and development centre, quality analysis and quality control labs. The unit complies with WHO good manufacturing practices (GMP) norms. The unit will have a capacity of 100 kg
Telangana Industries Minister KT Rama Rao over the video conference said, “Biologics and biosimilars are the future sectors that have abundant growth prospects. Genome Valley hosts 200 companies that are involved in cutting-edge research and manufacturing. And all this will boost Telangana’s presence in the sector.”
Rajender Rao, chairman, GeneSys Biologics, said, “We could set up our unit fast as the State government had been very proactive. We got all the approvals in just 45 days.”
GeneSys which treats this unit as a pilot plant will soon break ground for a higher capacity unit adjacent to the existing site, where it will invest Rs 250-300 crore. The funding will be through angel investors.
GeneSys Biologics MD Y Venkat Reddy told Telangana Today, “We will look at other categories too in the biosimilars space beyond insulin segment. We will also expand the product portfolio. We will also look into monoclonal antibodies in future as a separate platform.”
When asked about collaborations, he informed, “We are actively talking to few biosimilar companies for possible ties. We are in advanced stage of discussions with them. Our synergies will help us look at a wider portfolio.”
GeneSys which has a portfolio of six insulin products will discover, develop and deliver the products in global markets. The company is targeting potential sales of $30 billion once its products are commercialised. The country has high incidence of diabetes with 45 crore patients suffering with it and the domestic market will be a key market it will serve in addition to other emerging markets, US and Europe. The company will develop molecules, carry out clinical studies and roll out the products after obtaining regulatory approvals from all the target markets.
Reddy said, with the regulatory landscape evolving in India and globally, times are turning positive for biosimilars and these will be the fastest growing segment within biotechnology sector.
The company which currently employs 140 people is planning to hire take the number to over 200 by year-end.
Jayesh Ranjan, Principal Secretary of the Industries &Commerce (I&C) and information Technology (IT), Government of Telangana formally inaugurated the plant in the presence of Pankaj Ramanbhai Patel, chairman, Cadila Healthcare and GeneSys management.