Hyderabad: Stating that the government was focused on creating wealth and opportunities, industries minister K.T. Rama Rao on Thursday said that they had implemented TS-iPass and cleared 24,000 approvals for setting up companies. These are providing 2.4 million direct jobs and attracting investment of $50 billion, he said.
On a day when he participated in several programmes in the city, Rama Rao inaugurated India’s first commercial scale oligonucleotide production centre at the campus of Chemo India Formulation Private Limited by Insud Pharma, a leading Spanish multinational pharma company, in Genome Valley here.
The centre is only the fifth in the world to produce oligonucleotide for treating spinal muscular atrophy (SMA). The USFDA-approved facility will manufacture products and cater to global demand.
This is the first-of-its-kind research and production centre in India, focused on Oligonucleotides research and commercial production. It also ranks among the top five globally, alongside brand companies, with a focus on the US, EU, and numerous global markets
The state-of-the-art research and production centre has been approved by FDA, the Spanish health agency, the Drug Control General of India and international agencies.
"I had the pleasure of meeting leaders of Chemo and Insud during the World Economic Forum in Davos 2022, wherein they announced plans to expand in Hyderabad. I am delighted that the centre has become fully functional here," the minister said.
Chemo India is a wholly owned subsidiary of Insud Pharma. It has a presence in more than 40 countries and registers sales in over 100 countries. It has 18 industrial plants and 15 R&D centres in the world.
Meanwhile, Rao participated in the groundbreaking ceremony for the expansion of Syngene International's research laboratory at Genome Valley. The government is focussed on creation of wealth and opportunities for employed youth by inviting investments, he said.
"I love Bengaluru as much as I do Hyderabad. We would like to work with each other and grow further. I am proud of our pioneering efforts in life Sciences sector. Syngene's expansion is a testament to the tremendous opportunities and support that our state provides." he said.
Syngene, a leading global contract research, development and manufacturing services organisation, plans to build state-of-the-art research laboratories with a total investment of Rs 788 crore and create up to 1000 jobs.
