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Vivint Pharma to invest Rs 400 cr in injectable facility
Chief Minister A Revanth Reddy showing MoU entered with Emerging Innovation Group Senior Vice President Ronald Verkleeran along with IT and Industries Minister D Sridhar Babu and Special Chief Secretary for Information Jayesh Ranjan
Hyderabad: The official delegation led by Chief Minister A Revanth Reddy which is in the US scouting for investments on Wednesday signed an MoU with a...
Hyderabad: The official delegation led by Chief Minister A Revanth Reddy which is in the US scouting for investments on Wednesday signed an MoU with a global pharma company Vivint Pharma to invest Rs 400 crore to set up a state-of-the-art injectables manufacturing facility in the Genome Valley. The new facility would be creating employment for about 1,000 people.
It may be mentioned here that this company has an R&D centre in the Genome Valley. To consolidate its strengths and foray into international markets, it has now decided to establish its first manufacturing plant and has acquired 5.5 acres for its world-class infrastructure and conducive ecosystem for research, innovation, and manufacturing.
Appreciating this decision, the Chief Minister said, “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.”
Minister for Industries D Sridhar Babu said, “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.”
The state government also signed a MoU with Corning Incorporated, a global leader in materials science, to collaborate on skilling and innovation initiatives aimed at strengthening the state’s workforce and advancing technological innovation in key industries. This facility is set to commence production in mid-2025 and will enhance the availability of high-quality glass tubing for the pharmaceutical packaging industry.
This MoU was formalised during a meeting between Corning leadership team led by Ronald Verkleeren, Senior Vice President, Emerging Innovations Group, and the state official team led by Revanth Reddy and D Sridhar Babu and senior officials.
