Dr Reddys Labs step down arm to establish bio-manufacturing facility in Hyderabad

The company envisions significant scaling-up their investments in the future, which would result in a multi-fold increase in employment prospects in very advanced science and manufacturing technologies.;

Published On 2023-07-05 10:00 GMT | Update On 2023-07-05 10:00 GMT

Hyderabad:Aurigene Pharmaceutical Services Ltd, a leading contract research, development, and manufacturing services organization and a step-down subsidiary of Dr. Reddy's Laboratories, on Tuesday announced to establish a state-of-the-art development and manufacturing facility focused on niche areas like therapeutic proteins, antibodies, and viral vectors in Hyderabad.

With an investment of USD 40 Mn (Rs. 330 Crores Approx.), the project is aligned with the vision of Government to enhance Biologics R&D and complex manufacturing capabilities in Telangana state

This was announced by Mr. Satish Reddy, Chairman, Dr. Reddy’s Laboratories and Mr. Akhil Ravi, Chief Executive Officer, Aurigene Pharmaceuticals Services Limited after meeting with Minister for Industries and Commerce Mr. KT Rama Rao (KTR).

During the meeting, they briefed the Minister about the upcoming facility and growth plans of Aurigene Pharmaceutical for Hyderabad.

The Leadership of Aurigene informed the Minister that the primary objective is to generate employment opportunities through the investment of USD 40 million.

With the current investments, they anticipate creating approximately 200 direct job positions and another 60-70 indirect job opportunities within the next three years of current investment plans.

The company envisions significant scaling-up their investments in the future, which would result in a multi-fold increase in employment prospects in very advanced science and manufacturing technologies.

Aurigene would collaborate with the world's leading biotech innovators to facilitate the development and introduction of innovative medicines into the market.

By leveraging their expertise and resources, Aurigene aspires to contribute to the advancement of healthcare by bringing cutting-edge treatments to patients.

Aurigene also has exciting expansion plans for this facility by venturing into novel therapies, particularly Cell and Gene therapies.

By exploring these emerging fields, the intent of the company is to play a pivotal role in making affordable medicines accessible to people in India.

On the occasion, Mr KTR said that, “I am delighted that Aurigene has chosen Genome Valley to establish their State-of-the-art R&D and manufacturing facility. This investment is aligned perfectly with the Government's vision to enhance “Complex manufacturing at scale” wherein the objective is to make giant leap towards advanced therapeutic modalities".

By investing in biotherapeutics discovery, Aurigene has further strengthened Hyderabad's position as a preferred destination for biopharmaceutical research and production, the Minister said.

Aurigene’s investment will not only contribute to the growth of the biotherapeutics Contract Development and Manufacturing Organization (CDMO) ecosystem in Hyderabad but will also reinforce Government’s vision to enhance and promote the biologics capabilities of the state, the Minister added.

Akhil Ravi, Chief Executive Officer, Aurigene Pharmaceuticals Services Limited said that, “ We are excited to expand our infrastructure in Genome Valley (Hyderabad) as part of our continuous endeavour towards providing world class services to biotech companies worldwide. This foundation enables us to offer contract development and manufacturing solutions to global biotechs to bring innovative biologics to market quickly.”

Read also: Medtronic to expand Medtronic Engineering & Innovation Center in Hyderabad with investment of Rs 3000 crore

Article Source : UNI

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Ruchika Sharma

Ruchika Sharma joined Medical Dialogue as an Correspondent for the Business Section in 2019. She covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She has completed her B.Com from Delhi University and then pursued postgraduation in M.Com. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751

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Dr Reddys Labs step down arm to establish bio-manufacturing facility in Hyderabad

The company envisions significant scaling-up their investments in the future, which would result in a multi-fold increase in employment prospects in very advanced science and manufacturing technologies.;

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