Lucknow: Four prominent pharmaceutical companies based out of Telangana are likely to invest in Uttar Pradesh, according to a government communique issued on Saturday.
The companies were also interested in establishing drug and medical parks in U.P, which is gearing up for Monday’s grand Groundbreaking Ceremony, the note added.
One of them is reportedly interested in establishing a manufacturing facility at the Medical Device Park in Noida. The unit will likely focus primarily on manufacturing vaccine carriers. “The proposed plant will require an area of 35 to 40 acres, with the total investment estimated around ₹400 to ₹500 crore,” the statement read.
At the pharma conclave held in Hyderabad on January 18 , the U.P. government had outlined its vision to develop the state as a prominent cluster for drug and pharmaceutical manufacturing.
Dr Reddy’s Laboratories had expressed its interest in establishing a research laboratory at a strategic location. They indicated interest in exploring investment opportunities within the Bulk Drug Park in Lalitpur. The development of the park necessitates the availability of over 150 acres.
Additionally, a biotech laboratory and a manufacturing unit in the Medical Device Park, either in Noida or Greater Noida, have also been proposed.
Vince Bioproducts Limited (VBL) has expressed its intention to establish a research laboratory for the extraction of snake venom antiserum at the Medical Device Park in Noida or in a nearby area. This project is estimated to require an investment of ₹10-15 crore.
