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Minister KTR opens 20th Edition of BioAsia in Hyderabad

Hyderabad: Industries Minister of Telangana K.T. Rama Rao inaugurated the 20th edition of BioAsia here on Friday.

The event attracted esteemed representatives from the fields of science and technology, industry leaders, media colleagues, and other distinguished individuals from more than 100 countries.

In his opening speech, Minister KTR expressed his pride in reminding everyone that this is the 20th Edition of BioAsia, and acknowledged its consistent role in the development of the Life Sciences industry in Telangana and India. He also noted the remarkable growth of BioAsia, which has attracted a galaxy of healthcare, pharma, and Life Sciences leaders from across the globe.

This year’s theme is “Advancing for ONE: Shaping the next generation of humanized healthcare.” The theme celebrates the spirit of collaboration and promoting human prosperity, which was highlighted by the COVID-19 pandemic.

Minister KTR also spoke about the state of Telangana’s vision to develop, promote and propagate an enabling ecosystem for life sciences, pharma, and holistic healthcare. Hyderabad is the only city in the country with an ever-growing Genome Valley, an expanding Medtech Park, and an upcoming Pharma City, which will be the world’s largest.

He announced that the ecosystem value had already touched USD 80 billion in 2022, representing a phenomenal ecosystem value growth in Telangana at a mind-boggling 23% over the last two years compared to the national average of about 14%. Given the current momentum, he is confident that they will achieve their target of USD 100 billion by 2025, five years ahead of schedule. During the same period, the state has created a total employment of more than 4.5 lakh jobs.

Minister KTR said that the ultimate aim was to make Telangana the knowledge capital of the world’s life sciences industry. A key component of this is the growth of the lifesciences services sector. They already serve more than 1000 life sciences companies globally, including the top 10 pharma companies, in their innovation journey.

Minister KTR mentioned that there are four pillars that will help them achieve their audacious target. The first is complex manufacturing at scale. Telangana contributes 40% of India’s Pharma production and is home to more than 1000 Life Sciences companies. Hyderabad has been leading biological production in the country with its key players like Dr. Reddy’s Laboratories, Biological E, Bharat Biotech, Shantha Biotech, Aurobindo, Hetero, Gland Pharma, and Virchow Biotech. They are also making investments in the Cell and Gene Therapy space and working towards establishing an Institute of Curative Medicine in Hyderabad.

The second pillar is R&D and innovation. Hyderabad is regarded as the second-largest pharmaceutical hub in the world after New Jersey. The state is also leading the way in the production of vaccines and therapies for a range of diseases, including cancer, heart disease, and rare genetic conditions.

The third pillar is the creation of a skilled workforce. The state is investing in the development of a skilled workforce, particularly in the areas of life sciences and technology, through training programs and initiatives.

The fourth pillar is the creation of an enabling ecosystem. The state is committed to creating an enabling ecosystem for life sciences, pharma, and holistic healthcare through the provision of world-class infrastructure, progressive policies, and proactive execution on the part of the government.Minister KTR urged everyone to dream big and help reshape the future of the life sciences industry. (INN)

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