HYDERABAD: A series of multi-crore investments from leading pharma companies were announced for the state on Sunday, on the sidelines of the BioAsia Summit 2023.
US-headquartered Foxx Life Sciences will be investing Rs 200 crore to expand capabilities in pharmaceutical SUT (single use technology for drug manufacturing). The company had chosen Telangana as their first international plant a few years ago and successfully started a warehouse, White room for laboratory products and state-of-the-art Class VI clean room.
Another major investment came from Surface Measurement Systems group of companies, a major in particulate material, which announced opening up of particle characterisation laboratories (PCL) with an investment of over $two million as initial capital investment. It will invest a further $3 million over the next three years of operations.
Eagle Genomics, a tech bio platform company headquartered in the UK, announced that it was expanding its capabilities rapidly in Hyderabad following their meeting with minister K.T. Rama Rao during the BioAsia 2023 event.
The state government announced a future collaboration between SGD Pharma, a global producer of pharmaceutical primary packaging, and Corning Incorporated, to bring state-of-the-art technology and manufacturing expertise to the region. This collaboration will combine Corning’s high-quality pharmaceutical tubing technology with SGD Pharma’s glass vial manufacturing and converting expertise.
The intended project of approximately Rs 500 crore is likely to create 150 permanent jobs and more than 300 sub-contracted manpower in Mahabubnagar. Its commercial production is expected to begin next year.
