Hyderabad, April 25 (SocialNews.XYZ) Hyderabad's Genome Valley has established itself as a powerhouse of life sciences not just in India but globally as well, Telangana's Industries, Commerce and Information Technology Minister K T. Rama Rao said on Monday.
Stating that the next decade belongs to life sciences and healthcare, he said that the state government is committed to promote this sector to consolidate Hyderabad's position as an important life sciences destination in the world.
The state government is working with a clear goal to double pharma and life sciences ecosystem which is currently valued at $50 billion to $100 billion by 2030, he said while inaugurating the facility of the global biopharmaceutical group Ferring, established in Genome Valley with the total investment of about 30 million euros and total employment of around 110 people.
Headquartered in Switzerland, Ferring is a leader in reproductive medicine and maternal health and in speciality areas within gastroenterology and urology.
KTR, as the minister is popularly known, noted that Genome Valley has unique blend of companies across value chain of life sciences sector supported by extraordinary infrastructure including industrial knowledge parks, multi-tenanted dry and wet laboratories, incubation facilities, utility infrastructure, testing facilities and other ingredients required in discover, develop and manufacture policy.
"This is complemented by the thriving life science ecosystem in Hyderabad, which offers necessary linkages such as premier research institutions, highly skilled talent pool, favourable policies and consistent efforts of the government to promote the life sciences sector," he said.
The minister revealed that during his recent visit to the US, Telangana was able to secure investment commitments of Rs 7,500 crore across various sectors and more than half of this was in the life sciences sector.
He assured that government will continue to work with the companies in the life sciences sector ecosystem to consolidate the environment further
"Hyderabad is that place where biology meets technology, where life sciences meets data sciences. Points of intersection of information and biotechnology is what makes for the exciting opportunities that lie in innovation and disruption and that is where Hyderabad offers a really great value proposition for innovators both in India and abroad with its rich network of scientific institutions. There are more than 50 strong scientific institutions based out of Hyderabad with a solid think force. There are a lot of opportunities to create intellectual property and to create solutions for the rest of the world," he said.
Ferring's facility was initially planned in Maharashtra but eventually shifted to Hyderabad. The minister said that this is a testament to the overall ecosystem of life sciences in Telangana and pro-business policies of the government of Telangana which continue to attract global R&D companies to Hyderabad.
The company, which is a leader in reproductive medicine and maternal health, will focus on developing manufacturing urology products based on Ferring's proprietary fast dissolving granules platform technology which will be followed by a range of manufacturing and R&D activities in urology and gastroenterology.
The company developing treatment for mothers and babies for over 50 years and has portfolio covering treatments from conception to birth
KTR pointed out that recently Pune-based Bharat Serums and Vaccines Ltd, which is India's largest women's healthcare company, announced that it will set up a state-of-the-art injectable and vaccine manufacturing facility in Genome Valley with an investment of Rs 200 crore. The facility will produce women's health products, rabies vaccines, immunoglobulins hormones, among others.
He noted that Hyderabad is emerging as a leading destination for women's healthcare research and manufacturing besides its strong prowess in vaccines, pharmaceuticals and medical devices.
"Femtech is a new space that a lot of people are talking about and I am delighted this space is shaping up well in Hyderabad," he added.
The minister said two weeks ago, Jamp Pharma opened its centre of excellence in Genome Valley, its first facility of Jamp Pharma outside of Canada. He said Ferring has now added to the list of marquee companies in Genome Valley and Hyderabad.
Ferring Pharma's Vice President, Strategic Projects and Engineering, Francois Hosotte, Managing Director and Site Head, Anindya Ghosh, Principal Secretary, IT, E&C, Jayesh Ranjan, TSIIC VC and MD E.V. Narsimha Reddy, and Director, Life Sciences, Shakthi Nagappan, were present during the event.
Source: IANS
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