Summary:
Granules India has manufacturing sites in eight locations and presence in 75 countries across the globe.
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Pharmaceutical companies Granules India and Laurus Labs are all set to invest in Genome Valley in Hyderabad.
Representatives of the two companies met Industries Minister KT Rama Rao on Tuesday and announced their investment plans.
Granules India, a Hyderabad based pharmaceutical company, has announced a major investment of Rs 400 crore to set up a manufacturing facility with a capacity to manufacture 10 billion units of finished dosages.
The proposed unit will generate employment for about 1,600 people.
Granules India has manufacturing sites in eight locations and presence in 75 countries across the globe.
Krishna Prasad Chigurupati, chairman and managing director of Granules India Ltd, met IT and Industries Minister KT Rama Rao at Pragathi Bhavan and formally announced their investment plans.
In a related development, Laurus Labs, a leading research driven pharmaceutical company, has announced the setting up of a formulation facility with a unit capacity of 5 billion.
The company plans to invest Rs 300 crore in two phases of Rs 150 crore each.
Phase one of the plant is expected to provide employment to about 150 people.
Satyanarayana Chava, CEO, Laurus Labs, met Industries Minister Rama Rao on Tuesday, along with his team before making this announcement.
Laurus Labs has its R&D facility in IKP Knowledge Park, Hyderabad, and also operates six manufacturing facilities in Visakhapatnam in Andhra Pradesh.
All these facilities have been certified and approved by WHO, USFDA, NIP Hungary, and other renowned agencies.
Industries Minister Rama Rao thanked the leadership of both Granules India and Laurus Labs for choosing to invest in Telangana.