Big Pharma Companies to Invest Over ₹5,260 Crore in Hyderabad
Big pharmaceutical companies in India have announced plans to make large investments in Hyderabad. These companies signed Memorandums of Understanding (MoUs) with the Telangana State Government to expand their operations and establish eco-friendly, pollution-free green pharma units.
Major Investments and Job Creation
Six pharma companies have pledged to invest more than ₹5,260 crore in Hyderabad’s Pharma City. This initiative is expected to create 12,490 new job opportunities in the pharmaceutical sector. The State Government has also confirmed that land will be allocated for these new manufacturing units in the already established Pharma City.
Plans by Individual Companies
As per the agreements:
– MSN Laboratories will set up a new manufacturing unit and a Research and Development (R&D) center.
– Laurus Labs and Aurobindo Pharma will establish formulation units.
– Gland Pharma will open an R&D center and facilities for injectables and drug substance manufacturing.
– Dr. Reddy’s Laboratories will launch a unit for injectables and biosimilars.
– Hetero Labs will build a plant for finished doses and injectable manufacturing.
High-Level Discussions
The MoUs were finalized after discussions between Chief Minister A Revanth Reddy, Industries Minister D Sridhar Babu, and representatives of the pharma companies at the Secretariat. The Chief Minister instructed officials to allocate land within the next four months and ensure all necessary facilities are provided for the construction of these units in Pharma City.
Key Participants
The meeting was attended by key industry leaders, including:
– Satish Reddy, Director of Dr. Reddy’s Laboratories
– VV Ravikumar, Executive Director of Laurus Labs
– Srinivas, CEO of Gland Pharma
– MSN Reddy, CMD of MSN Laboratories
– Madan Mohan Reddy, Director of Aurobindo Pharma
– B Vamsi Krishna, Managing Director of Hetero Group
Senior government officials, including TSIIC Chairperson Nirmala Jagga Reddy, Special Secretary to the Chief Minister Ajith Reddy, and Special Chief Secretary to the Industries Department Jayesh Ranjan, were also present.
This significant development reinforces Hyderabad’s position as a major hub for the pharmaceutical industry in India.
