Telangana attracted 141 life sciences investments worth Rs 36,000 crore in 1 year: Sridhar Babu
Published On : 2024-11-15T11:47:18+0530 [ IST ] |
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None : p>Telangana Industries & IT Minister Duddilla Sridhar BabuHYDERABAD: Telangana received 141 investments amounting to nearly 36,000 in the past year alone and the state govt is preparing to introduce a dedicated LS policy by the end of the year industries & IT Minister Duddilla Sridhar Babu said on Thursday./p>p>These investments are made by global giants such as Cigna Evernorth, Amgen Zoetis anofi, HCA Healthcare and Olympus through the establishment of global capability centres (GCCs) and innovation centres as well as manufacturing and manufacturing facilities. R&D investments by Indian players like Hetero Labs Aragen Laurus Labs among others will create around 51,000 direct jobs and another 1.5 lakh indispensable jobs rect jobs, he said./p>p>Providing a detailed breakup, he said the state attracted 59 pharma manufacturing investments in the past 10-11 months. pharma formulations and R&D-related investments 13 GCCs nine on vaccines biosimilars and biotech six medical devices and healthcare-related investments ments and three investments in Genome Valley for the creation of plug-and-play infrastructure and lab spaces./p>p>The largest among these include Vivint Pharma's 4000 crore investment in setting up a new injectables factory that will employ 1,000 people and Sanofi's 3,600 crore GCC expansion that will cre Amgen's new GCC that will create over 3,000 jobs and Japanese giant Takeda's tie-up with Biological E to set up capacity to produce five crore dengue vaccines per annum./p>p>Sridhar Babu said the state government is in the process of formu a dedicated life sciences policy will be unveiled by the chief minister A Reventh Reddy shortly. the dedicated LS policy so that we can attract new players to Telangana during BioAsia 2025. The policy will further streamline processes and attract inv It will be designed to address the evolving needs of the LS industry. y and ensure that Telangana consolidates its position as an important hub in the global LS value chain," he said. ter the Telangana Global AI Summit earlier this year govt is now kicking off sector-specific AI conferences starting with a day-long convention o n ‘Catalyst of Change: AI in Healthcare' on November 18 to deliberate on the implementation of AI in the sector and unlock its potential to revolution ise healthcare.
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Summary : p>Telangana Industries & IT Minister Duddilla Sridhar BabuHYDERABAD: Telangana received 141 investments amounting to nearly 36,000 in the past year alone and the state govt is preparing to introduce a