Telangana likely to unveil Life Sciences policy by Dec.: Sridhar Babu

CM to launch the policy to further streamline processes, attract investments, and foster innovation besides driving sustainable growth

Over the last 10 months, the Congress government secured agreements for 140 Life Sciences or pharmaceutical projects entailing an investment of ₹36,000 crore and a potential to generate 51,000 direct jobs and 1.5 lakh indirect jobs. The domestic and multinational firms that had committed to invest have either started or preparing to launch operations of pharmaceuticals, vaccines, life sciences as well as research and development projects, said Industries Minister D. Sridhar Babu on Thursday.

A new technology and innovation centre by Cigna subsidiary Evernorth Health Services; ₹2,000 crore R&D expansion project of Aragen; ₹2,905 crore innovation campus of global health tech leader Medtronic; GCC of biotech major Amgen that will create more than 3,000 jobs; new GCC of animal health company Zoetis; new R&D centre of Laurus Labs and a new manufacturing facility with Krka, are part of the new investments, a list shared with the media showed.

Mr. Sridhar Babu said that Chief Minister A. Revanth Reddy is likely to unveil the policy, being designed to address the evolving needs of the industry, and ensure Telangana consolidates its position as a global hub in the Life Sciences value chain to drive sustainable growth, in December. It will help generate interest among potential investors and attract companies ahead of BioAsia 2025, the next in the annual flagship event of the TG government devoted to Life Sciences.

On the status of Hyderabad Pharma City that the previous government had conceived and which the Congress regime earlier this year said is to be scrapped and instead several relatively smaller pharma clusters set up to better manage environmental issues, Mr. Sridhar Babu said the focus is on green pharma projects.

A release from the Minister’s office said that Telangana is a hub for new pharmaceutical and Life Sciences companies in India and pursuing plans to establish pharma clusters in multiple locations rather than just a single centre.

The government will go about the land acquisition for pharma clusters transparently, and only after fulfilling public demands and gaining community consent, proceed, he said.

Published - November 14, 2024 09:31 pm IST