At present, Hyderabad is one of the most prioritized destinations for global pharmaceutical biotech investments.
In the previous year, it attracted about 7,500 crore rupees in investments. Out of this amount, about 1,000 crore rupees worth of investment had been made in the previous month alone. A substantial amount of the money has been invested already.
Hyderabad – The medical investment hub
When it comes to the strength of pharma biotech, Hyderabad has been popular for years. A little while ago, Andhra Pradesh was considered to be the nation’s pioneer in the niche of bulk drugs. The director-general of Pharmaceutical Exports Promotions Council, R Uday Bhaskar, told the BusinessLine that constant development in Hyderabad has been attracting massive investments.
The state government claims that Hyderabad got about 7,500 crore rupees worth of investment. These investments were made in the medical, biotech, and pharma devices areas in the last year. About 220 companies have either already invested or have started to invest. Because of this, employment for about 35,000 people is also expected.
Investments made by Jamp Pharma and Slayback
To expand Greenfield and Brownfield, Jamp Pharma made a 250 crore rupees investment recently. Jamp Pharma is a generic drug manufacturer in Canada. Slayback, a US-based company, will be investing a sum of $20 Million in the coming three years. This report came directly from the government of Telangana. It also includes the setting up of a cGMP lab and a facility for manufacturing in Hyderabad. In the previous five years, Slayback has already invested about US $30 million.
Not only multinationals but domestic majors are also making investments in the field. India’s biggest stent manufacturer, SMT, is investing 530 crore in the global hub. Many other players, such as Laurus Labs, have already invested more than 300 crore rupees. The group is expected to make more investments.
The infrastructure of Hyderabad
The infrastructure and ecosystem in Hyderabad is diversified. Medical Devices Park and Pharma City with Genome Valley play a great role. A director of a Hyderabad-based pharmaceutical company said to BusinessLine that a skillful workforce with top-notch education and research institutions make things easier here.
KT Rama Rao, the Minister for Industries, also went on a trip to lure investments from the United States. He claims to put special efforts into showing Hyderabad’s strengths in the biotech sector.
For the last 20 years, BioAsia has been a contributor to industry and research. Talking to the BusinessLine, Rao said it is the best time to assess the current pharma’s position. The principal secretary of industries in Telangana Jayesh Ranjan told the BusinessLine that he eagerly awaits the BioAsia event. From the state to foreign countries, more than 32,000 participants have registered themselves so far.
According to the officials, being ‘future ready’ was the conference’s theme, which is pretty relevant to the present situation given the global pandemic.
Hyderabad – Vaccine hub
Hyderabad being a vaccine-biotech hub has caught the attention of many drug manufacturers. It is all about the opportunities of Telangana, according to industry professionals. Hyderabad has also been the production hub of Covid-19 vaccines.
Hence, Bharat Biotech’s Covaxin and Russian direct investment fund’s Sputnik V want to collaborate with Corbevax of Biological E and Dr. Reddy’s Laboratories. Hyderabad, at present, blips on the pharmaceutical-biotech map across the world.
Based on its contribution in handling the pandemic, Hyderabad made 2 out of 3 vaccines. A top-class pharmaceutical cluster is also going to emerge in Hyderabad. It will anchor further expansion as a pharmaceutical city.
A lot of investments will occur in the upcoming days in Hyderabad. Hyderabad has a lot of expectations to also emerge as the future of vaccination manufacturing.