Hyd Pharma City set for launch as decks cleared: KTR
Says the world’s largest pharma cluster will attract $8-bn investments and has the potential to create 5 lakh jobs initially
Telangana makes 35% (about 9 bn doses) of all vaccines made globally and almost 40% of the pharmacies all over the world are manufactured in this State. It has the highest number of USFDA-approved manufacturing units in any single province or State in the world, having 214 facilities
Hyderabad: Telangana is all set to achieve its ambitious target of taking the life sciences sector value to about $250 billion by 2030 from the current $80 billion, State Industries Minister KT Rama Rao said here, while addressing CII Telangana’s annual meet here. He is optimistic that the State government’s project Hyderabad Pharma City, which was stuck up due to ongoing court cases, will be launched soon.
“The launch of Hyderabad Pharma City is on the anvil. This will be the world’s largest pharma cluster in a single location. Presently, it is in the last leg of the court cases and reserved for the judgment. We are hopeful that the judgment will come soon. I am sure it will attract $8 billion worth of investments and it has the potential to create five lakh jobs initially,” he said during the conference.
“However, Hyderabad Pharma City did not receive any support from the Centre. The State has also been denied a bulk drugs manufacturing cluster, other manufacturing clusters, industrial corridors and others. Even though a special incentive was promised in the AP Reorganisation Act, nothing has been given to both the Telugu States of Telangana and Andhra Pradesh,” the Minister said.
He said, “The employment opportunities at Hyderabad Pharma City will grow further as we have a number of plans with respect to the pharma sector in the city. The demand is more than supply right now. We are expanding Genome Valley and Telangana Medical Devices Park. About 50 companies are currently running their operations in this medical devices park and more 30 firms will be unveiled soon.”
Telangana Medical Devices Park has the world’s largest stent manufacturing facility in single location. Recently, Serum also announced to set up a centre here. The State now makes 35 per cent (about nine billion doses) of all vaccines made globally. This will increase to 50 per cent (14 billion doses) by end of next year. Almost 40 per cent of the pharmacies all over the world are manufactured in this State.
Telangana has much strength in the life sciences sector. The State has witnessed drastic growth in the value from $50 billion to $80 billion in the last two-and-a-half years. It has the highest number of USFDA-approved manufacturing units in any single province or State in the world, having 214 facilities. New jersey is the second largest in the world with 189 facilities, KTR informed.
Across the spectrum of life sciences, the State has various activities and the government plans to consolidate all of them to tap more opportunities, he added.