Hyderabad Attracts Rs 700 Crore Investments in Pharma

Hyderabad Attracts Rs 700 Crore Investments in Pharma

The life sciences hub of India, Hyderabad has attracted two major investments in Genome Valley. Granules India is investing Rs 400 crore to set up a finished dosages unit while Laurus Labs is investing Rs 300 crore for a formulations manufacturing facility.

Granules India, a Hyderabad-based pharmaceutical company, will be making a major investment of Rs 400 crores to set up a manufacturing facility with a capacity to make 10 billion units of finished dosages. The proposed unit will generate employment to about 1,600 people.

Granules India already has manufacturing sites in eight locations and presence in 75 countries across the globe. The company already operates the world’s largest commercial Pharmaceutical Formulation Intermediates (PFI) Facility at Gagillapur near Hyderabad.

Krishna Prasad Chigurupati, CMD of Granules India met IT & Industries Minister KT Rama Rao at Pragathi Bhavan today to formally make this announcement.

Similarly, Laurus Labs, a research-driven pharmaceutical manufacturing company will be setting up a formulation facility with a capacity of 5 billion units. The company plans to invest Rs 300 crores in two phases of Rs 150 crores each. Phase 1 of the plant is expected to provide employment to about 150 People.T Today