Telangana has attracted ₹36,000 crore investments in the life science sector sinceCongress government assumed power in December last year, according to Telangana Industries Minister Sridhar Babu.
Speaking to media here on Thursday, he said, “We witnessed a surge of investments from several international and domestic companies, who have chosen Telangana as their gateway to India’s rapidly growing life sciences ecosystem, since Congress took over the office.”
“We welcomed more than 140 projects with a cumulative investment of about ₹36,000 croreand 51,000 direct jobs. This will also result in creation of approximately 1,50,000 indirect jobs,’‘ he added.
Terming Telangana as an `undisputed’ leader in life sciences space globally, Sridhar Babu said the investments were made in pharmaceutical manufacturing and R&D centres and GCC innovation hubs.
European companies
In the last one year, European companies KrKA and Laurus Labs announced a joint investment of ₹2,000 crore in Genome Valley for pharmaceutical finished products and biopharmaceutical manufacturing in the cluster. Laurus also set up a state-of-the-art R&D centre with ₹250 crore. Both these investments had a combined employment potential of 2,800 people, he said.
The Japanese pharmaceutical major Takeda announced a partnership with Biological E Ltd to manufacture 5 crore Dengue vaccine doses annually from Genome Valley. With this investment, Hyderabad will lead the global fight against dengue, further cementing its position as the vaccine capital of the world.
”Rx Propellant and Terminus Group’s ₹2,000 crore investment in Genome Valley will create world class lab space infrastructure of 20 lakh Sq Ft to support innovation and R&D, which has potential to create 10,000 new jobs across multiple functions,’‘ Sridhar Babu added.
The state government and Thermo Fisher partnered together to establish the country’s first scale-up biological manufacturing facility and bioprocess design centre in Genome Valley. While Germany based Milteyni Biotec is setting up a world-class cell and gene therapy facility in the Genome Valley, Aragen, one of India’s leading CRO/CDMO, announced a ₹2,000 crore expansion plan in Nacharam thereby doubling down on their strengths in Telangana and creating 1,000 new jobs.
”Apart from this, several others, including Switzerland-based Ferring Pharma, and US-based Vivint Pharma are expanding their operations in the Genome Valley,’‘ the minister further said.
Life sciences policy
Telangana government will shortly introduce a dedicated life sciences policy, which will further streamline processes, attract investments, foster innovation, and drive sustainable growth across this critical sector, Sridhar Babu said, adding, “This upcoming policy is designed to address the evolving needs of the life sciences industry, ensuring Telangana consolidates its position as an important node in the global life sciences value chain.’‘