Pharma sector
Pharma sector

Gland Pharma To Invest Rs 400 Crore To Expand Its Telangana Plant

The company had established their biopharmaceutical facility in February last year at Genome Valley with an investment of Rs 300 crore to manufacture vaccines, biologicals, biosimilar, antibodies and others

Gland Pharma on Monday announced that it would be investing Rs 400 crore to create additional capabilities in its existing facility at Genome Valley here to manufacture biologicals, biosimilar, antibodies and recombinant Insulin. An official release from the state government said the expanded facility will have employment generation potential of more than 500 numbers of qualified, skilled and semi-skilled workforce to be recruited, mostly from the nearby places.

The company had established their biopharmaceutical facility in February last year at Genome Valley with an investment of Rs 300 crore to manufacture vaccines, biologicals, biosimilar, antibodies and others. The expanded site is envisaged to meet the national and international regulations to be followed in the manufacturing of the biological products as applicable and shall be built under the GMP guidelines applicable for the respective product lines, it said. The announcement was made after Telangana Industries Minister KT Rama Rao's meeting with the Managing Director and Chief Executive Officer of Gland Pharma Srinivas Sadu.

Srinivas Sadu said, "We are delighted to collaborate with the Government of Telangana on its vision of making the State a hub for global pharmaceutical requirements, by expanding our Bio-CDMO facilities in Shamirpet. This project investment is estimated to be about Rs 400 crore and expected to generate employment to about 500 personnel." Rama Rao said, "I am delighted that Gland Pharma will be investing Rs 400 crores in expanding their footprint in Hyderabad and will create 500 more jobs in Telangana."

Related Stories

No stories found.
logo
Outlook Business & Money
business.outlookindia.com