Telangana’s Pharma City Attracts Rs. 5,260 Crore Investment from Six Pharma Giants, Creates 12,490 Jobs
Hyderabad, Nov 23 – Telangana’s ambitious Pharma City project is set to receive a major boost as six leading pharmaceutical companies have signed agreements to invest a staggering Rs. 5,260 crores in establishing cutting-edge manufacturing and research facilities. The initiative is expected to generate 12,490 jobs, reinforcing the state’s reputation as a global hub for the pharmaceutical industry.
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Major Players Investing in Pharma City
The companies leading this massive investment include:
- MSN Group
- Laurus Labs
- Gland Pharma
- Dr. Reddy’s Laboratories
- Aurobindo Pharma
- Hetero Labs
Each of these pharmaceutical giants is bringing unique capabilities and innovations to Pharma City, enhancing Telangana’s position as a leader in life sciences and healthcare.
Planned Investments and Facilities
Here’s a detailed look at the investments and projects planned by these companies:
- MSN Laboratory:
- Establishing a manufacturing unit alongside a state-of-the-art Research & Development (R&D) center.
- Laurus Labs:
- Setting up a formulation unit to develop advanced pharmaceutical products.
- Aurobindo Pharma:
- Building a formulation unit to manufacture high-quality medications.
- Gland Pharma:
- Developing an R&D center and facilities for manufacturing injectables and drug substances.
- Dr. Reddy’s Laboratories:
- Establishing a unit specializing in injectables and biosimilars to cater to global markets.
- Hetero Labs:
- Constructing a plant for finished dose formulations and injectable manufacturing.
Government Support for Pharma City
The Telangana government, under the leadership of Chief Minister A. Revanth Reddy and Industries Minister D. Sridhar Babu, is actively facilitating the establishment of these units. The state will allocate land in Pharma City to these companies, enabling them to commence construction within the next four months.
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During a meeting held at the Secretariat, the Chief Minister directed officials to expedite land allocation and streamline the necessary approvals. This proactive approach underscores the state’s commitment to fostering industrial growth and creating employment opportunities.
Key Stakeholders at the Meeting
The agreement signing ceremony witnessed participation from top industry leaders, including:
- Satish Reddy, Director, Dr. Reddy’s Laboratories
- VV Ravikumar, Executive Director, Laurus Labs
- Srinivas, CEO, Gland Pharma
- MSN Reddy, CMD, MSN Labs
- Madan Mohan Reddy, Director, Aurobindo Pharma
- B Vamsi Krishna, Managing Director, Hetero Group
These industry stalwarts shared their vision for Pharma City, emphasizing its role in driving innovation and manufacturing excellence in the pharmaceutical sector.
Pharma City: A Game-Changer for Telangana
Telangana’s Pharma City is a flagship project aimed at transforming the state into a global pharmaceutical and life sciences hub. With world-class infrastructure, streamlined regulatory processes, and a supportive government, the project offers an ideal environment for pharmaceutical companies to thrive.
Key Highlights of Pharma City:
- Spanning 19,000 acres, it is one of the world’s largest pharmaceutical hubs.
- Equipped with state-of-the-art infrastructure for manufacturing, research, and logistics.
- Focused on sustainable development with environmental conservation measures.
Economic Impact
The investments by these six pharmaceutical giants are expected to:
- Create 12,490 direct jobs, providing opportunities for skilled professionals in the region.
- Boost the state’s GDP and contribute to India’s growing pharmaceutical exports.
- Enhance Telangana’s reputation as a preferred destination for global pharma companies.
Why Telangana is a Preferred Pharma Destination
Telangana has emerged as a leader in India’s pharmaceutical sector due to:
- Proactive Government Policies: Business-friendly initiatives and streamlined regulatory approvals.
- Skilled Workforce: Availability of a highly trained and educated talent pool.
- Strategic Location: Proximity to major markets and excellent connectivity.
- World-Class Infrastructure: Pharma City is designed to cater to the needs of global pharmaceutical companies.
Future Prospects
With these investments, Pharma City is poised to play a crucial role in advancing India’s position as the “Pharmacy of the World.” The collaboration between the Telangana government and industry leaders highlights the potential for innovation, employment generation, and economic growth.
Conclusion
Telangana’s Pharma City project is not just an investment destination; it is a testament to the state’s vision for industrial development and healthcare innovation. The collaboration with six leading pharmaceutical companies marks a significant milestone, promising a brighter future for the state and the pharmaceutical industry at large.
