Hyderabad: Chief Minister Revanth Reddy, on Tuesday, February 27, announced plans to expand the Genome Valley project with an investment of Rs 2,000 crore.
Speaking at the opening session of the two-day life sciences conference ‘BioAsia 2024’ here, he said the government will promote a second phase of Genome Valley. “The state government would promote a 300-acre second phase for the project. Apart from this, ten ‘pharma villages will be promoted, capable of generating nearly 5 lakh employment opportunities with an investment of Rs 1 lakh crore,” he said.
Vikarabad, Medak and Nalgonda have been identified as locations to set up integrated greenfield pharma villages, he said.
Genome Valley, constructed 25 years ago, houses over 200 companies involved in research and development (R&D), clean manufacturing, incubators, life sciences etc.
Over 1,500 employees work in different companies such as Novartis, GlaxoSmithKline, DuPont, Bharat Biotech and Lonza.
New life science policy
Industries and IT minister D Sridhar Babu announced the launch of a new life science policy in the next few months. The policy will include life sciences, pharma, policies and regulations.
The state government will be launching “a new dynamic life sciences policy which will be a fusion between technology, life sciences, pharma, policy and regulatory agencies,” the minister announced.
