Hyderabad: India’s life Science Centre, Hyderabad has drawn two big investments in the Genome Valley. Granules India is investing Rs 400 crore in the establishment of a finished dosage facility, while Laurus Labs is investing Rs 300 crore in the manufacture of formulations.
Granules India, a pharmaceutical company headquartered in Hyderabad, will make a major investment of Rs 400 crores to set up a manufacturing facility with a capacity of 10 billion finished dosing units. The proposed unit would create jobs for approximately 1,600 people.
Granules India already has manufacturing sites in eight locations and a presence in 75 countries across the globe.
The company also operates the world’s largest commercial Pharmaceutical Formulation Intermediates (PFI) facility in Gagillapur, near Hyderabad.
Krishna Prasad Chigurupati, CMD of Granules India, met today with IT & Industry Minister KT Rama Rao in Pragathi Bhavan to make this announcement.
Similarly, a formulation facility with a capacity of 5 billion units will be set up by Laurus Labs, a research-driven pharmaceutical manufacturer.
The company is planning to spend Rs 300 crores in two phases of Rs 150 crores each. Approximately 150 employees are required to be working in phase 1 of the project.
Satyanarayana Chava, CEO of Laurus Labs, met with the Minister of Industry and his team before making this announcement. Senior Secretary of the Industry Department Jayesh Ranjan was also present at the meeting.
Laurus Labs has its R&D facility in IKP Knowledge Park, Hyderabad, and also operates six production units in Visakhapatnam. All of these facilities have been accredited and approved by WHO, USFDA, NIP Hungary and other renowned agencies.
Laurus provides bulk anti-retroviral (ARV) medications, oncology, cardiovascular, anti-diabetic, anti-asthma and gastroenterology.
KTR thanked both Granules India and Laurus Labs for choosing to invest in Telangana. He said that the Telangana government will provide all possible support to both these companies and to the proactive policies of the state government, under the leadership of CM K Chandrashekar Rao attracting global leaders in IT, Pharma, Textiles, Aerospace and Defense and other sectors to Hyderabad and other parts of Telangana.
The Minister expressed faith that these investments in the manufacturing sector would provide the local youth of Telangana with the jobs they need. (INN)