Pharma Giants Invest $5,260 Crore in Telangana Pharma City

Six major pharmaceutical companies, including Dr Reddy's Laboratories and Aurobindo Pharma, have committed to invest over Rs 5,260 crore in the Telangana Pharma City. This investment is projected to create approximately 12,490 jobs. The companies have signed MoUs with the Telangana government and will commence setting up facilities soon.

Six leading pharmaceutical companies, including notable names like Dr Reddy's Laboratories and Aurobindo Pharma, have entered into memorandums of understanding with the Telangana government to establish new facilities in the state's Pharma City.

The companies have pledged an investment exceeding Rs 5,260 crore, a move that is anticipated to generate roughly 12,490 job opportunities within the pharmaceutical sector, according to a government release.

At a meeting with Chief Minister A Revanth Reddy and Industries Minister D Sridhar Babu, these companies finalized their agreements. Plans include setting up research and development centers and manufacturing units, with construction set to commence within four months, as per government directives.

(With inputs from agencies.)