Hyd attracts Rs.700 crore pharma investments; KTR promises govt support

Hyderabad: Hyderabad on Tuesday attracted a whopping 700-crore in investments from pharmaceutical companies Granules India and Laurus Labs for the pharma city in Genome Valley. While Granules will be making an investment of Rs.400 crores to set up a manufacturing unit, Laurus will invest Rs. 300 crores for a formulation facility.

Hyderabad often dubbed as ‘Bulk Drug Capital of India’ and ‘Pharma Industry Capital of India’, accounts for almost 40 per cent of the country’s bulk drug manufacturing and half of its exports in the sector. The major investments from these renowned companies will only add to this muscle.

Granules India company executives said that the manufacturing unit which will be set up will have a capacity to make 10 billion units of finished dosages. The proposed unit will generate employment for about 1,600 people. Granules India already has manufacturing sites in eight locations and a presence in 75 countries across the globe. The company already operates the world’s largest commercial Pharmaceutical Formulation Intermediate (PFI) Facility at Gagillapur near Hyderabad.

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Similarly, Laurus Labs, a research-driven pharmaceutical manufacturing company will invest Rs 300 crores in two phases of Rs 150 crores each. Phase 1 of the plant is expected to provide employment to about 150 People. Laurus Labs has its R&D facility in IKP Knowledge Park, Hyderabad and also operates six manufacturing units in Visakhapatnam. All these facilities have been certified and approved by WHO, USFDA, NIP Hungary, and other renowned agencies. Laurus manufactures bulk drugs for anti-retroviral (ARV), oncology, cardiovascular, anti-diabetics, anti-asthma and gastroenterology.

KTR thanked the leadership of both Granules India and Laurus Labs for choosing to invest in Telangana.

He stated that the Telangana government will provide all possible support to both these companies and the proactive policies of the State government, under the leadership of CM K Chandrashekar Rao, are attracting global leaders in IT, Pharma, Textiles, Aerospace and Defence and other sectors to Hyderabad and other parts of Telangana.

The Minister expressed confidence that these investments into the manufacturing sector will provide the needed employment to local youth from Telangana.

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