Slayback Pharma announces USD 20 million expansion in Hyderabad
On Saturday, Slayback Pharma headquartered in New Jersey, announced its operations expansion plans in Hyderabad for the next three years with investments of US dollars 20 million.
Hyderabad: Industries Minister KT Rama Rao’s visit to United States is facilitating in getting huge investments into Telangana.
On Saturday, Slayback Pharma headquartered in New Jersey, announced its operations expansion plans in Hyderabad for the next three years with investments of US dollars 20 million. Under these plans, the company is launching a cGMP Lab and a manufacturing facility in Hyderabad.
The company has already invested around USD 30 million till now during the last five years.
Slayback Pharma is engaged in development of complex generic and specialty drugs. The company commenced its operations in Hyderabad in 2017 with headcount of around 35, started R&D lab in Genome Valley in 2018 and has grown organically since then.
At present, the company has three facilities in Hyderabad with total headcount of 106. R&D facility in Hyderabad, India with an area of 13,636 SFT comprising of Injectable formulation development lab, OSD formulation development lab and Analytical development lab.
The company announced its expansion plans after Industries Minister KT Rama Rao’s meeting with Ajay Singh, Founder & CEO, Slayback Pharma.
During the meeting, Minister was informed that since its inception in 2011, Slayback has demonstrated a spectacular track record of numerous sole first-to-file ANDAs, 505(b)(2)s and complex generic filings, approvals and launches. Further, Slayback’s ANDA for Hydroxyprogesterone 5 ml vial was the first generic ANDA to be approved and launched in the US.
K.T Rama Rao said “I am happy to note about the phenomenal growth of Slayback Pharma in Hyderabad and its expansion plans. I am confident that the vibrant ecosystem of Hyderabad will continue to support the Company’s growth aspirations and I am happy to see many such life sciences companies scaling new heights”
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