Major pharma companies to invest ₹5,260 crore in Telangana

The investment is to set up new units and expanding operations in the existing ones

Major pharmaceutical companies have promised investments to the tune of ₹5,260 crore for setting up new units and expanding operations in the existing ones in Telangana.

Representatives of the pharma industries called on Chief Minister A. Revanth Reddy at the Secretariat on Friday afternoon and signed memoranda of understanding with the State Government in his presence. They assured to set up green industry without giving scope for pollution. The MoUs would help create 12,490 new jobs in the pharma sector and the State Government would provide land for the units in the proposed pharma city.

According to the MoUs, MSN Laboratories would set up a manufacturing facility as well as research and development centres and Laurus Labs and Aurobindo Pharma would set up formulation units while the Gland Pharma would set up an R&D centre as well as injectables and drug substance manufacturing unit. Dr. Reddy’s Labs on its part would set up injectables and biosimilar facility while Hetero Labs assured to set up plant for finished dosages and injectables.

The Chief Minister directed the officials concerned to take steps to allot lands for the pharma units to set up their units besides ensuring the necessary facilities for their operations.

Dr. Reddy’s Labs director Satish Reddy, Laurus Labs executive director V.V. Ravi Kumar, Gland Pharma chief executive officer Srinivas and Hetero Group managing director Vamsi Krishna were among others who called on the Chief Minister.

Published - November 22, 2024 07:05 pm IST