Top pharma companies to invest Rs 5,260 cr, create 12,490 jobs in TG

Hyderabad: Prominent pharma companies in the country have come forward to make huge investments in Hyderabad. The company managements entered MoUs with the State Government aiming to expand their operations and also establish pollution-free green pharma companies.

Six companies expressed their interest to invest more than Rs 5,260 crore and provide 12,490 job opportunities in the pharma sector. The State Government announced the allocation of land for the establishment of the new pharma manufacturing units in the already recognised Pharma City.

As per the MoUs, MSN Laboratory will set up a manufacturing unit along with an R&D centre. Laurus Labs and Aurobindo Pharma will establish formulation units. Gland Pharma is ready to open an R&D centre, injectables, and drug substance manufacturing units. Dr Reddy’s Labs will establish an injectable and biosimilars unit. Hetero Labs will set up a finished dose and injectable manufacturing plant.

Before entering agreements, representatives of the pharma companies held talks with Chief Minister A Revanth Reddy and Industries Minister D Sridhar Babu at the Secretariat.

The Chief Minister directed the officials concerned to allocate land to the pharma companies to take up construction works in the next four months and also provide the required facilities in the Pharma City. Dr Reddy’s Labs director Satish Reddy, Laurus Labs ED VV Ravikumar, Gland Pharma CEO Srinivas, MS Labs CMD MSN Reddy, Aurobindo director Madan Mohan Reddy, and Hetero Group managing director B Vamsi Krishna participated in the meeting. TSIIC Chairperson Nirmala Jagga Reddy, Special Secretary to CM Ajith Reddy, Special Chief Secretary to the Industries Department Jayesh Ranjan and Vishnuvardhan Reddy were also present.