Hyderabad:IT and industries minister D. Sridhar Babu said Telangana was powering India's position as the global leader in pharmaceutical production and exports, pointing to the state's performance during the Covid-19 pandemic.
"During the Covid-19 pandemic, four vaccines were manufactured in India, out of which three were produced in Hyderabad," Sridhar Babu said at the inauguration of ‘India Lab Expo-2024’ at Hitex on Thursday.
Addressing representatives from the pharmaceutical industry, he said, “One-third of all vaccines in the country are supplied from Telangana. Additionally, 30 per cent of the (national) pharmaceutical production happens within the state, and 40 per cent of the medicines exported from India come from Telangana." He added that 50 per cent of bulk drug exports were from Telangana.
He said that Telangana held a 19 per cent share in life sciences and med-technology start-up ventures. Over the past four years, the life sciences sector has attracted investments worth `10,000 crore.
Owing to the state's industry-friendly environment, pharma and life sciences companies are viewing Telangana as a key destination for expansion, the minister noted.
He expressed happiness that 25,000 products from 25 countries were showcased at the Lab Expo. Notable pharma industry leaders, including Bhupinder Singh, Harshit Shah, and Dr. S.V. Veeramani, were present at the event.
