Hyderabad: Aragen Life Sciences has announced its plans to invest Rs 2,000 crore in Telangana, focusing on expanding its existing facility at Mallapur and is expected to create 1500 jobs.
This investment is aimed at bolstering the city’s status as a center for drug discovery and development, further solidifying Hyderabad’s reputation as a hub for Contract Research Organizations (CROs).
The expansion plans, announced by Aragen’s CEO Manni Kantipudi, are geared towards enhancing drug discovery, development, and manufacturing for the global life sciences industry.
Telangana chief minister A Revanth Reddy, welcomed the company’s substantial investment, emphasizing the government’s commitment to fostering a vibrant ecosystem and infrastructure to support innovation and growth.
The company has also made significant investments in setting up bio-manufacturing and formulations manufacturing facilities in India, further underlining its commitment to advancing pharmaceutical and biotechnological research and development.
Manni Kantipudi, speaking on behalf of the company, expressed enthusiasm for the five-year expansion plans. He expressed confidence in the leadership of the chief minister, asserting that Hyderabad would maintain its position as the undisputed headquarters for CROs and CDMOs.
“We continue to see this industry grow and flourish in Telangana. We want to thank the government of Telangana for their strong support and approval of our expansion plans and look forward to completing these expansions in the coming years,” he added.
