Telangana: Six pharma giants to invest Rs 5,260 cr in Pharma City
Under the agreements, MSN Laboratory will establish a manufacturing unit along with a Research & Development (R&D) center. Laurus Labs and Aurobindo Pharma will set up formulation units. Gland Pharma has shown interest in opening an R&D center, as well as manufacturing units for injectables and drug substances. Dr. Reddy's Labs plans to establish a unit for injectables and biosimilars. Hetero Labs will set up a plant for finished dose and injectable manufacturing.
Hyderabad: Six major pharma companies have signed agreements with Telangana government to set up new units at Pharma City with a total investment of Rs.5,260 crore and provide 12,490 jobs.
Representatives of MSN Group, Laurus Labs, Gland Pharma, Dr. Reddy’s Laboratories, Aurobindo Pharma and Hetero Lab held a meeting with Chief Minister A Revanth Reddy and Industries Minister D Sridhar Babu at Secretariat here on Friday.
The State government will allocate land for the establishment of the new pharma manufacturing units in the Pharma City.
As per the agreements, MSN Laboratory will set up a manufacturing unit along with a Research & Development (R&D) center. Laurus Labs and Aurobindo Pharma will establish formulation units. Gland Pharma evinced interest to open an R&D centre, injectables, and drug substance manufacturing units. Dr. Reddy’s Labs will establish an injectable and bio-similars unit. Hetero Labs will set up a finished dose and injectable manufacturing plant.
During the meeting, the Chief Minister directed officials to allocate land to the companies facilitating them to commence construction works in the next four months.
Dr. Reddy’s Labs Director Satish Reddy, Laurus Labs Executive Director VV Ravikumar, Gland Pharma CEO Srinivas, MS Labs CMD MSN Reddy, Aurobindo Director Madan Mohan Reddy and Hetero Group Managing Director B Vamsi Krishna had participated in the meeting.
