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TS govt’s proactive measures help boost new investment in pharma sector
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A Raju, Hyderabad
October 30 , 2020
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The proactive measures taken by the state government of Telangana in the pharma sector is attracting more and more new investments in the state. Recently, top pharma companies Granules India and Laurus Labs have announced a combined investment of Rs. 700 crore to expand their formulation units in the Genome Valley, located on the outskirts of Hyderabad.
According to Jayesh Ranjan, Principal Secretary, Department of Industries and IT, government of Telangana, ever since the formation of new state of Telangana in the year 2014, the state government has been taking pro-active measures to attract more and more investors in the bulk drug, formulation, medical devices and biotechnology sectors.
“To boost new investment and retain the already existing pharmaceutical sector, we have taken many pro-active policy decisions. One among these is the TS-iPass, the new industrial policy, which is aimed at providing single window platform to get easy permission for setting up of industrial units. As already Telangana has more than 800 pharma and related units with a total value of worth of Rs. 5,000 crore and in the next one decade the state is targeting to attract Rs. 10,000 crore investments through the newly formed Pharma City and Genome Valley 2.0 projects in the state,” said Jayesh Ranjan.
As already the Hyderabad Pharma City, which is being planned to be constructed over an area of 19,000 acres, is already getting ready with its first phase to be inaugurated by end December this year. However, simultaneously the state government is also working on bulk drug pharma clusters along the outer ring road and is also giving a push to attract more investors in to the Genome Valley 2.0, a medical devices park, and the Biological Scale-up manufacturing facility (B-Hub).
“We are happy to inform you that new investors are coming forward to invest in the Genome Valley project, which is Asia’s top biotech and research hubs located in Hyderabad. India’s top pharma companies Laurus Labs and Granules India have come forward to invest Rs. 300 crore and Rs. 400 crore respectively to expand their formulation units. With this the state government is expecting generation of 1,600 new jobs in the state,” informed the Principal Secretary.
It is learnt that Laurus Labs is expected to invest in two phases of Rs. 150 crore each and is going to set up a huge formulation facility with a capacity of 5 billion units of finished dosages, while Granules India is also coming up with a formulation facility with a capacity of 10 billion units.
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