Aurigene Pharmaceutical Services to invest Rs 330 crore in Genome Valley
Hyderabad: Aurigene Pharmaceutical Services, a contract research, development, and manufacturing services organisation and a step-down subsidiary of Dr Reddy's Laboratories, has decided to establish a development and manufacturing facility focused on niche areas like therapeutic proteins, antibodies, and viral vectors in Hyderabad.
It will invest about $ 40 million (about Rs 330 crore) in the facility.
Dr Reddy’s Laboratories chairman Satish Reddy, Aurigene chief executive officer Akil Ravi met industries and IT minister KT Rama Rao on Tuesday to brief him about the upcoming facility and growth plans of Aurigene.
The company official said the $40 million investment will create about 200 direct job positions and another 60-70 indirect job opportunities in three years. The company has plans to increase investments in future. Aurigene would collaborate with biotech innovators to facilitate development and introduction of innovative medicines into the market.
Aurigene also has plans to venture into novel therapies, particularly cell and gene therapies with an intent to play a role in making affordable medicines accessible to people in India.
“I am delighted that Aurigene has chosen Genome Valley to establish their research and development and manufacturing facility. This investment is aligned with the Government's vision to enhance complex manufacturing at scale. By investing in biotherapeutics discovery, Aurigene has further strengthened Hyderabad's position as a preferred destination for biopharmaceutical research and production,” said Rama Rao.
“We are grateful to the Government of Telangana for their efforts to develop Telangana and Hyderabad into a leading pharmaceutical and biotechnology hub by bringing together various stakeholders, providing crucial support and infrastructure,” said Akhil Ravi.
The company has 25 years experience in developing therapeutic proteins and antibodies, he said.
Industries principal secretary Jayesh Ranjan and Telangana Life Sciences chief executive officer Shakthi Nagappan were present.
