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Business Economy


Granules and Laurus Labs Pharma companies announces Rs 700 cr major investments in Genome Valley

Hyderabad, Oct 27 (UNI)Two renowned Pharma Companies -Granules India and Laura's Labs on Tuesday announced their major investments in Genome Valley, a Indian high-technology business district spread across 600 km² in Hyderabad.
Granules India, a Hyderabad based Pharmaceutical company, has announced a major investment of Rs 400 Crore to set up a manufacturing facility with a capacity to manufacture 10 Billion Units of Finished Dosages.
The proposed unit will generate employment to about 1600 people, a release from state Industries Department said here.
Granules India already has manufacturing sites in eight locations and presence in 75 Countries across the globe.
The Company already operates the world's largest Commercial Pharmaceutical Formulation Intermediates (PFI) Facility at Gagillapur near Hyderabad.
Granules India Chairman and Managing Director Krishna Prasad Chigurupati, who met Telangana Minister for Industries K T Rama Rao at Pragathi Bhavan here, formally made this announcement.
In a related development, Laurus Labs, a leading research driven Pharmaceutical Manufacturing Company has also announced setting up of a Formulation Facility with a unit capacity of 5 Billion.
The Company plans to invest Rs 300 Crore in Two phases of Rs 150 Crores each.
Phase One of the plant is expected to provide employment to about 150 People.
Before making this announcement, Laura's Labs CEO Satyanarayana Chava, met the Industries Minister along with his team.
Industries Department Principal Secretary Jayesh Ranjan was also present in the meeting.
Laurus Labs has its R&D facility in IKP Knowledge Park, Hyderabad and also operates Six manufacturing facilities in Visakhapatnam of Andhra Pradesh.
All these facilities have been certified and approved by WHO, USFDA, NIP Hungary, and other renowned agencies.
Laurus Labs is one of the leading manufacturers of API for Anti-Retroviral (ARV), Oncology, Cardio-vascular, Anti-Diabetics, Anti-Asthma and Gastroenterology.
The Minister thanked the leadership of both Granules India and Laurus Labs for choosing to invest in Telangana.
He stated that the state government will provide all possible support to both these companies.
Mr Rao said the proactive policies of the state government, under the leadership of Chief Minister K Chandrashekar Rao was attracting global leaders in IT, Pharma, Textiles, Aerospace and Defence and other sectors to Hyderabad and other parts of Telangana.
The Minister expressed confidence that these investments into the manufacturing sector will provide the much needed employment to local youth from Telangana.
UNI KNR CS 1637
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