Telangana is dreaming big on Life Sciences, says KT Rama Rao
Mr Rama Rao is certain that Telangana is well positioned as a leader in life sciences in the global map.
Hyderabad: The Telangana government approved 700 investment proposals in the Life Sciences sector of which 80 per cent have already started operations since January 2015. In the past four years, the state has been able to get an investment of Rs 10,222 crore in Life sciences. Minister K.T. Rama Rao, in a statement released on Sunday, said that the government is working towards doubling the valuation of the Pharma sector by taking it to 100 billion dollars.
Mr Rama Rao is certain that Telangana is well positioned as a leader in life sciences in the global map. Over the last four years, since the formation of the new state, the sector has been buzzing with activity with the entry of new players like Ferring Pharma, Chemo, GSK, Syngene, Slayback Pharma, Johnson & Johnson etc., and the expansion of companies like Novartis, Biological E, Laurus Labs, Pulse Pharma among others. The government is focussed on the development of Hyderabad Pharma City, Genome Valley 2.0 and the Medical Devices Park as a cluster. To foster the development of the Life Sciences sector, the government came up with Life Sciences Vision 2030, B-Hub, BioAsia, Life Sciences Infrastructure Fund, Innovation Fund, Ease of Doing Business and Skilling Initiatives.
To create skilled labour, the government has partnered with US Pharmacopeia for setting up a training institute for university graduates and pharma professionals, addressing the skill gap on regulatory and data requirements.
A number of other skilling programmes focussed on vaccines, biopharma, pharmaceutical manufacturing and artificial intelligence in healthcare are under finalisation.