Telangana's Pharma Hub: Major Investments Set to Boost Economy

Six leading pharmaceutical companies have partnered with the Telangana government to invest over Rs 5,260 crore in the Pharma City. This investment is projected to generate 12,490 jobs. The companies involved include Dr Reddy's, Aurobindo Pharma, and Hetero Labs, among others, focusing on manufacturing and research facilities.

Six leading pharmaceutical companies, including giants like Dr Reddy's Laboratories and Aurobindo Pharma, have announced significant investments in Telangana. The companies signed MoUs with the state government for setting up manufacturing facilities in the much-anticipated Pharma City.

These pharmaceutical titans have committed to pumping in over Rs 5,260 crore, which will foster 12,490 new job opportunities in the region's pharmaceutical sector. Government officials and company representatives finalized the agreements during a meeting with Chief Minister A Revanth Reddy and Industries Minister D Sridhar Babu.

Facilities to be established include an R&D center by MSN Laboratories, formulation units by Laurus Labs and Aurobindo Pharma, and multiple manufacturing units by Gland Pharma. The first phase of land allocation and infrastructure development is scheduled to begin in the coming four months, signaling significant economic growth on the horizon.

(With inputs from agencies.)