Aurobindo Pharma, Dr Reddy's Labs and 4 others partner with Telangana to set up facilities in Pharma City

Written By : Ruchika Sharma |Medically Reviewed By : Dr. Kamal Kant Kohli Published On 2024-11-27T16:29:39+05:30 | Updated On 27 Nov 2024 4:29 PM IST

New Delhi: Dr Reddy's Laboratories, Aurobindo Pharma, and Hetero Labs and 3 other pharmaceutical companies have signed memorandums of understanding (MoUs) with the Telangana government for setting up facilities in the Pharma City with an investment of over Rs 5,260 crore, the government announced on Friday.

The investment is expected to create 12,490 job opportunities in the pharma sector, according to an official release.

"The pharma company managements signed MoUs to establish the industries. The six companies expressed their interest to invest more than Rs 5260 crore. The investments will provide 12,490 job opportunities in the pharma sector. The government will allocate land for the establishment of the new pharma manufacturing units in the recognised pharma city," the release said.

According to PTI, representatives from the companies met with Chief Minister A Revanth Reddy and Industries Minister D Sridhar Babu at the Secretariat to finalise the agreements.

According to the MoUs, MSN Laboratories will establish a manufacturing unit and an R&D center, Laurus Labs and Aurobindo Pharma will set up separate formulation units, and Gland Pharma will open an R&D center along with injectables and drug substance manufacturing units.

Dr Reddy's Labs will build an injectable and biosimilars unit, while Hetero Labs will establish a finished dose and injectable manufacturing plant, the release added.

The Chief Minister instructed officials to allocate land for the new facilities and ensure the necessary infrastructure is provided in the Pharma City, with construction work to begin within the next four months

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Source : with inputs

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

Dr. Kamal Kant Kohli

Dr Kamal Kant Kohli-MBBS, DTCD- a chest specialist with more than 30 years of practice and a flair for writing clinical articles, Dr Kamal Kant Kohli joined Medical Dialogues as a Chief Editor of Medical News. Besides writing articles, as an editor, he proofreads and verifies all the medical content published on Medical Dialogues including those coming from journals, studies,medical conferences,guidelines etc. Email: drkohli@medicaldialogues.in. Contact no. 011-43720751