Hyderabad:
A delegation led by Chief Minister A Revanth Reddy, currently in the US to attract investments, signed an agreement with Vivint Pharma. The global pharma company will invest Rs 400 crore to build a new injectables manufacturing facility in Genome Valley. This facility will create approximately 1,000 jobs.
Vivint Pharma already has a research and development center in Genome Valley. To strengthen its position and enter international markets, the company has decided to establish its first manufacturing plant. They have acquired 5.5 acres of land for this purpose, aiming to leverage the region’s world-class infrastructure and supportive environment for research, innovation, and manufacturing.
Chief Minister Revanth Reddy expressed his delight at the investment, stating, “I am delighted to know that Vivint Pharma would be investing in Genome Valley. Telangana has always been at the forefront to foster innovation in the life sciences sector, and this investment will add further impetus.”
Industries Minister D Sridhar Babu also praised the investment, saying, “This investment is a testament to the business-friendly environment nurtured by our Government. Genome Valley continues to be a magnet for pharmaceutical companies, and Vivint Pharma’s decision to set up a new manufacturing facility here reaffirms our leadership in the life sciences domain.”
In addition to the agreement with Vivint Pharma, the state government also signed a deal with Corning Incorporated, a global leader in materials science. This partnership will focus on skilling and innovation initiatives to strengthen the state’s workforce and advance technological innovation in key industries. The new facility will start production in mid-2025 and will improve the availability of high-quality glass tubing for the pharmaceutical packaging industry.
The memorandum of understanding with Corning was formalized during a meeting between their leadership team, led by Ronald Verkleeren, Senior Vice President of Emerging Innovations Group, and the state officials led by Revanth Reddy and D Sridhar Babu, along with senior officials.
