Hyderabad, Oct 27 (SocialNews.XYZ) Two leading pharma companies Granules India and Laurus Labs on Tuesday announced major investments in Hyderabad to set up manufacturing facilities.
Granules India, a Hyderabad based Pharmaceutical company, will invest Rs 400 crores to set up a manufacturing facility with a capacity to manufacture 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 world. The company already operates the world's largest Commercial Pharmaceutical Formulation Intermediates (PFI) Facility at Gagillapur near Hyderabad.
Krishna Prasad Chigurupati, Chairman and Managing Director of Granules India Ltd. met state Minister for Industry and Information Technology K.T. Rama Rao here on Tuesday to formally make this announcement.
Laurus Labs, a leading research driven pharmaceutical manufacturing company, also announced setting up of a formulation facility with a unit capacity of five billion. The company plans to invest Rs 300 crores in two phases of Rs 150 crores each. Phase one of the plant is expected to provide employment to about 150 people.
Satyanarayana Chava, CEO, Laurus Labs, met Rama Rao, along with his team before making this announcement. Industries Department Principal Secretary Jayesh Ranjan was also present in the meeting.
Laurus Labs has its R&D facility in the IKP Knowledge Park, Hyderabad and also operates six manufacturing facilities in Visakhapatnam, Andhra Pradesh. All these facilities have been certified and approved by the WHO, USFDA, NIP Hungary, and other renowned agencies.
Laurus Labs is one of the leading manufacturers of API for Anti-Retroviral (ARV), Oncology, Cardio-vascular, Anti-Diabetics, Anti-Asthma and Gastroenterology.
The minister thanked the leadership of both Granules India and Laurus Labs for choosing to invest in Telangana. He assured that the state government will provide all possible support to both these companies.
Rama Rao said that the proactive policies of the state government, under the leadership of Chief Minister K. Chandrasekhar Rao is attracting global leaders in IT, Pharma, Textiles, Aerospace and Defence and other sectors to Hyderabad and other parts of Telangana.
The minister expressed confidence that these investments into the manufacturing sector will provide the much needed employment to local youth from Telangana.
Source: IANS
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