AU, Pharmacity to set up Rs 50-cr research unit

VISAKHAPATNAM: An Advanced Scientific Research Centre will be set up by a joint venture floated by Andhra University and Visakha Pharmacity. It is a unique model and a first of its kind in India in which a State university is floating a joint venture, in association with a pharma company.

The centre will cater to the needs of pharmaceutical industries situated in Andhra Pradesh and outside in pharma research for development of new chemical entities and new analytical methods for drugs, impurity profiling, alternative methods of synthesis for  drugs etc. An MoU has been signed between Visakha Pharmacity and AU in this regard.

Speaking to TNIE here on Wednesday, Visakha Pharmacity MD and CEO PP Lal Krishna said the centre will be set up with Rs 50 crore and a G+3 facility will come up close to the Centre of Excellence in Andhra University. As per the schedule, the research centre will be operationalised in six months. 

The centre was the brainchild of AU Vice-Chancellor PVGD Prasada Reddy. He said the objective of AU and Pharmacity is the same with main focus on overall development of the pharma industry.AU Registrar V Krishna Mohan and Lal Krishna signed the MoU in the presence of Prasad Reddy, Rector K Samatha and AU College of Pharmaceutical Sciences principal Y Rajendra Prasad. 

Krishna Mohan highlighted the significance of the institute-industry interaction for improving the quality of student performance keeping in view of the New Education Policy 2020. These types of collaborations will enhance the skills of students.