Corning, Vivint to Invest in State, Create Jobs: Telangana CM Revanth
Hyderabad: As part of a trip to the US to attract investments to Telangana, Chief Minister A. Revanth Reddy on Wednesday inked Memoranda of Understanding (MoU) with two global companies — Corning Incorporated and Vivint Pharma — in New York.
Corning Incorporated is a global leader in materials science, which collaborates with the state government on skilling and innovation initiatives, and advancing technological innovation in key industries. Vivint Pharma is an injectables pharmaceutical company, which announced its plans to establish a state-of-the-art injectables manufacturing facility in Genome Valley, Hyderabad.
Vivint Pharma will be investing Rs 400 crore in the new facility, with the potential to employ 1,000 people, further solidifying Telangana’s position as a global hub for life sciences.
The MoU with Corning was formalised during a meeting between the state government’s team led by Chief Minister A. Revanth Reddy, industries minister D. Sridhar Babu, and other senior officials and the Corning leadership team, led by Ronald Verkleeren, Senior Vice President of the Emerging Innovations Group.
As part of the agreement, Corning and Telangana will collaborate on designing and implementing programmes focused on skilling the local workforce in advanced manufacturing and chemical engineering technologies. These initiatives aim to ensure that Telangana’s talent pool remains competitive on a global scale, aligning with the state’s vision of becoming a hub for cutting-edge research and development in the pharmaceutical and chemical sectors.
The company is keen to collaborate with Telangana in developing and implementing flow chemistry technology, further solidifying the state’s position as a hub for innovation in the pharmaceutical and chemical industries.
During the meeting, Corning expressed its gratitude to the Telangana government for its unwavering support in establishing a state-of-the-art pharmaceutical glass tubing facility. This facility, set to commence production in mid-2025, will enhance the availability of high-quality glass tubing for the pharmaceutical packaging industry.
Vivint Pharma's announced to expand its footprint in India, particularly in Telangana, which has emerged as a preferred destination for pharmaceutical and biotechnology companies.
The company has an R&D centre in Genome Valley and has invested about Rs.70 crores in the facility. To consolidate its strengths and foray into international markets, the company has decided to establish its first manufacturing plant and has acquired 5.5 acres in Genome Valley, known for its world-class infrastructure and conducive ecosystem for research, innovation, and manufacturing.
Vivint Pharma’s injectables facility will focus on the development and production of high-quality injectable drugs in the oncology and critical care space for both domestic and international markets. The company’s decision to invest in Genome Valley aligns with its strategy to leverage India’s skilled workforce and the region’s advanced manufacturing capabilities to meet the growing global demand for pharmaceutical products.
