Hyderabad: Finally setting the ball rolling for Pharma City, half a dozen top pharma companies from Telangana committed to inject 5,260 crore in setting up R&D and manufacturing units that will create up to 12,490 jobs.
Laurus Labs and Gland Pharma will be injecting the highest investments of 1,500 crore each.
When contacted, Telangana special chief secretary for industries Jayesh Ranjan said the Pharma City, in its new ‘green' avatar, will not house any red category or polluting units making bulk drugs and will comprise only R&D units and plants for formulations, injectables and biologics.
While Laurus will set up formulations units, Gland will put up R&D and units for injectables & biologics formulations and drug substances . Dr Reddy's Labs will make injectables and biologics, while Aurobindo Pharma will set up formulation units. MSN Labs will set up a biotech or formulations plant with integrated R&D while Hetero will make finished dosages, injectables, and complex biologics.
The announcement was made after top pharma honchos met chief minister Anumula Revanth Reddy and Telangana industries minister Duddilla Sridhar Babu on Friday and inked memoranda of understanding (MoUs) with the state govt.
Dr Reddy's chairman Satish Reddy, Laurus Labs CFO VV Ravikumar, Gland Pharma executive chairman & CEO Srinivas Sadu, Hetero MD B Vamsi Krishna, MSN Labs CMD MSN Reddy, and Aurobindo director Madan Mohan Reddy were present.
CM directed officials concerned to allocate land and develop requisite infrastructure in four months.
Ranjan said while the govt will need around 3-4 months to provide basic infrastructure at the site, companies will need to commence construction of units within six months.