Six Pharma firms to invest Rs 5,260 cr in Hyd

Prominent pharma companies have come forward to make huge investments in Hyderabad. The companies have entered into MoUs with the TG Government to expand operations and also establish pollution-free green pharmaceutical plants.
The representatives of pharma companies held talks with Chief Minister Revanth Reddy and Industries Minister D. Sridhar Babu at the secretariat on Friday.
The representatives of the MSN Group, Laurus Labs, Gland Pharma, Dr Reddy’s Laboratories, Aurobindo Pharma, Hetero Labs, TSIIC Chairperson Nirmala Jagga Reddy, CM’s Special Secretary Ajith Reddy, Industries Department Special Chief Secretary Jayesh Ranjan and Vishnuvardhan Reddy attended the meeting.
The managements of the pharmaceutical companies signed MoUs to set up plants investing around Rs 5,260 crore creating around 12,490 jobs. The government will allocate land for setting up the new manufacturing units in Pharma City.
As per the MoUs, MSN Laboratory will set up a manufacturing unit along with an R&D centre. Laurus Labs and Aurobindo Pharma will establish formulation units. Gland Pharma is ready to open an R&D centre and a plant for manufacturing injectable drugs and drug substance manufacturing units. Dr Reddy’s Labs will establish an injectable and biosimilar unit. Hetero Labs will set up a finished dose and
injectable manufacturing plant. The Chief Minister directed officials to allot land to the pharma companies so that they can start construction in the next four months and also provide facilities in Pharma City.
Dr Reddy’s Labs Director Satish Reddy, Laurus Labs ED VV Ravikumar, Gland Pharma CEO Srinivas, MS Labs CMD MSN Reddy, Aurobindo Director Madan Mohan Reddy and Hetero Group Managing Director B. Vamsi Krishna attended the meeting.