Hyderabad has potential to become $100-billion pharma hub by 2030: Telangana Industries Minister KT Rama Rao – The Hindu BusinessLine

Clipped from: https://www.thehindubusinessline.com/news/hyderabad-has-potential-to-become-100-billion-pharma-hub-by-2030-telangana-industries-minister-kt-rama-rao/article33902931.ece

‘Life sciences sector attracted ₹3,700-crore investment in one year’

As a pharma and life sciences hub of the world, Hyderabad is poised to grow to a $100-billion business generator by 2030, up from $13 billion (2020), as per the projections made in the Life Sciences report of the Telangan government.

KT Rama Rao, Telangana IT and Industries Minister, said: “The visit of envoys from 70 countries to Hyderabad, Prime Minister Narendra Modi’s visit to a vaccine facility, and former US President Donald Trump’s request to India for supply of Covid drug Remdesivir (which is made in Hyderabad) for treatment show the importance the pharma hub has for the world in Covid treatment and vaccination programme.”

The life sciences sector has attracted investments of ₹3,700 crore in the past one year with employment potential of 14,000 people, he said.

‘Vaccine capital of the world’

Addressing the inaugural session of the 18th edition of BioAsia, a life-sciences and healthcare forum, on Monday, Rao said: “Hyderabad’s position as a vaccine capital of the world has been further bolstered as the world is looking at it for supplies of vaccines. The year 2020 has had a profound impact on life, economic and social spheres of the world, where we have lost more than 2.5 million lives to the Covid pandemic.Our scientists and entrepreneurs have given the life sciences sector its moment in spotlight, with accelerated development of vaccines , diagnostics and therapeutics.”

The vaccine production capabilities of Bharat Biotech, Biological Evans, Indian Immunologicals, Dr Reddy’s Laboratories and Hetero Drugs for Sputnik V vaccines, Aurobindo Pharma (450 million doses), among others, will play a significant role in supply of Covid vaccines, he said.

“As we look at further consolidating the position of Telangana and Hyderabad as a pharma and life-sciences hub with new facilities, we will soon have a major Pharma City that will house pharmaceutical, life sciences and other medical devices facilities.”

Referring to some of the investments and pipeline projects, he said Sai Life Sciences has committed a ₹400-crore investment for and R&D centre and new drug development in Genome Valley; the Syngene campus set up last year is in the process of expanding. GVK Biosciences is set to expand by inducting 600 people; Granules India is coming up with a ₹400-crore vaccine facility; Laurus Labs is setting up a ₹300-core formulations facility. Ferring Pharmaceuticals has started operations; the $170-million Medtronic medical devices facility is gearing up for commissioning next month, and 40 companies are setting up units at the Medical Devices Park.

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