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KTR inaugurates Ferring Laboratories facility at Genome Valley
IT minister KT Rama Rao
The state IT minister KT Rama Rao on Monday inaugurated the Genome Valley, Ferring Laboratories plant which was set up with an investment of Euro 30 million (around Rs 246 crores).
Hyderabad: The state IT minister KT Rama Rao on Monday inaugurated the Genome Valley, Ferring Laboratories plant which was set up with an investment of Euro 30 million (around Rs 246 crores). The Minister, after the inauguration said the Laboratories set up in Hyderabad is a live testimony of presence of life sciences ecosystem and the man power in the city. He informed that the company first thought of setting up the facility in Maharashtra but later opted for Hyderabad after they came to know the quality man power in the city and the friendly approach by the State government in ease of doing business.
It is to mention here that Ferring is a research-driven, specialty biopharmaceutical group that mainly focuses on reproductive medicine and maternal health, and in specialty areas within gastroenterology and urology. The Switzerland headquartered company's facility in Hyderabad will employ about 110 people. It is reported that the company has 12 research and development facilities across the globe. The Hyderabad unit has state-of-the-art facilities with an integrated research and development wing
The Minister stated that within the Genome Valley cluster, other companies too are focusing on reproductive medicine and maternal health. He said that Bharat Serums and Vaccines Global had a few days ago announced to set up an injectable and vaccine manufacturing facility at Genome Valley with an investment of Rs 200 crore. The company has a range of biological, biotech and pharmaceutical products. It caters to gynecology, assisted reproductive technology, critical care, emergency medicine, neurology, nephrology and haematology and urology segments, he said.
He recalled that Jampa Pharmaceuticals also inaugurated its facility at the Genome Valley recently. The facility is designed to cater solid oral dosage form, powders, topical, nasal delivery and liquid oral pharmaceutical products for regulated markets.
He added that it has an investment outlay of Rs 250 crore and creates employment to about 200 people.
Recollecting the success of his recent visit to the USA to attract investments, the minister stated that the government succeeded in getting more than Rs 7,500 crore worth investments across all sectors and about 50 per cent of them were in the life sciences segment. He added that the next decade will be the decade of life sciences, adding further that focus will be on biology, life sciences and allied fields intersecting with technology and data analysis. He mentioned that the State government is working to double the life sciences facility from the current $ 50 billion to $ billion by 2030.
KTR lauded that Genome Valley has emerged as the preferred destination for major R&D focused life sciences companies in India. It houses over 150 companies, making it the country's largest cluster of multi-tenanted lab space infrastructure in a single location. Located in Shameerpet of Hyderabad, Genome Valley is a blend of knowledge parks, special economic zones, multi-tenanted wet laboratories, incubation facilities, office spaces along with support facilities. It has a lot of opportunities to create intellectual property and also employment, he added.
Ferring Laboratories Managing Director Anindya Ghosh, Industries Principal Secretary Jayesh Ranjan, Lifesciences Director Shakti Nagappan and others were present.
