In a significant boost to the state’s pharmaceutical sector, six prominent pharma companies have committed to setting up new facilities in Telangana’s Pharma City.
This development is expected to create over 12,000 job opportunities and attract investments worth Rs 5,620 crore.
The announcement was made during a meeting with Chief Minister A Revanth Reddy and Industries Minister D Sridhar Babu, where Memorandums of Understanding (MoUs) were signed with the companies.
Telangana Pharma City: Companies and Investments
The six companies involved in this initiative are MSN Group, Laurus Labs, Gland Pharma, Dr Reddy’s Laboratories, Aurobindo Pharma, and Hetero Labs.
Each company has outlined its plans for the new facilities.
MSN Group will establish a manufacturing unit and an R&D center, while Laurus Labs and Aurobindo Pharma will set up formulation units.
Gland Pharma will build an R&D center along with injectable drug substance manufacturing units, and Dr Reddy’s Laboratories will set up an injectable and biosimilars unit.
Hetero Labs will establish a finishing dose and injectable drugs manufacturing plant.
Government Support and Land Allocation
The Telangana government has agreed to allocate land for the establishment of these new pharma manufacturing units.
Chief Minister Revanth Reddy has directed officials to expedite the land allotment process and provide the necessary infrastructure.
This will ensure that construction works begin within the next four months.
This move is part of the state’s broader vision to develop a self-reliant and robust pharmaceutical ecosystem.
Telangana Pharma City: Economic Impact and Job Creation
The investments by these six pharma companies are expected to have a significant economic impact on the region.
The creation of over 12,000 jobs will significantly boost employment. This growth will also contribute to the overall development of the pharmaceutical sector in Telangana.
The government’s support and the strategic location of Pharma City will attract more companies to the region.
This will further enhance its reputation as a leading hub for pharmaceutical manufacturing.
Six pharma companies have committed to setting up new facilities in Telangana’s Pharma City.
This marks a significant milestone in the state’s journey towards becoming a leading hub for pharmaceutical manufacturing.
The initiative will foster innovation in the pharmaceutical sector.
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