Six Major Pharma Companies To Invest Rs 5,260 Crore In Telangana

Hyderabad:  Major pharmaceutical companies have promised investments to the tune of Rs 5,260 crore for setting up new units and expanding operations in the existing ones in Telangana.

Representatives of the pharma industries called on Chief Minister A. Revanth Reddy at the Secretariat on Friday afternoon and signed memoranda of understanding with the State Government in his presence. They assured to set up green industry without giving scope for pollution. The MoUs would help create 12,490 new jobs in the pharma sector and the State Government would provide land for the units in the proposed pharma city.

According to the MoUs, MSN Laboratories would set up a manufacturing facility as well as research and development centres and Laurus Labs and Aurobindo Pharma would set up formulation units while the Gland Pharma would set up an R&D centre as well as injectables and drug substance manufacturing unit. Dr. Reddy’s Labs on its part would set up injectables and biosimilar facility while Hetero Labs assured to set up plant for finished dosages and injectables.

The Chief Minister directed the officials concerned to take steps to allot lands for the pharma units to set up their units besides ensuring the necessary facilities for their operations.

Dr. Reddy’s Labs director Satish Reddy, Laurus Labs executive director V.V. Ravi Kumar, Gland Pharma chief executive officer Srinivas and Hetero Group managing director Vamsi Krishna were among others who called on the Chief Minister.

Related Posts

  • Pharma
  • December 24, 2024
  • 20 views
FDA Approves First Generic Daily GLP-1 Injection for Type 2 Diabetes

The FDA today approved the first generic referencing the glucagon-like peptide-1 (GLP-1) receptor agonist liraglutide (Victoza), an 18 mg/3 mL injection, to improve glycemic control in patients aged 10 years and older…

  • Pharma
  • December 24, 2024
  • 80 views
Aurobindo Pharma shares jump 2% after UK arm secures regulatory approval for cancer drug

Aurobindo Pharma shares jumped 2% to an intraday high of Rs 1,265 on the BSE after its wholly owned step-down subsidiary CuraTeQ Biologics received approval from the UK‘s Medicines and Healthcare products Regulatory Agency…

Leave a Reply

Your email address will not be published. Required fields are marked *

You Missed

FDA Approves First Generic Daily GLP-1 Injection for Type 2 Diabetes

FDA Approves First Generic Daily GLP-1 Injection for Type 2 Diabetes

HC denies bail to pharma company owner for manufacturing spurious drugs

HC denies bail to pharma company owner for manufacturing spurious drugs

Aurobindo Pharma shares jump 2% after UK arm secures regulatory approval for cancer drug

Aurobindo Pharma shares jump 2% after UK arm secures regulatory approval for cancer drug

Ho-Lis-Tic, are ‘bols’ of Cure Tabla Maestro Zakir Hussain missed

Ho-Lis-Tic, are ‘bols’ of Cure Tabla Maestro Zakir Hussain missed

Healthcare, pharma sectors raise Rs 14,811 crore via IPOs in 2024

Healthcare, pharma sectors raise Rs 14,811 crore via IPOs in 2024

NPPA sets retail prices for 65 drugs, revises ceiling for 20 formulations

NPPA sets retail prices for 65 drugs, revises ceiling for 20 formulations