Gland Pharma plans Rs400-cr expansion
Drug major will expand its plant at Genome Valley near Hyd, generate 500 jobs
Hyderabad: City-based Gland Pharma on Monday announced its investment plan for capacity addition. The pharma major will invest Rs400 crore in enhancing additional capabilities in its existing facility at Genome Valley here to manufacture biologicals, biosimilar, antibodies and recombinant Insulin. The capex announcement came after Srinivas Sadu, CEO, Gland Pharma, met with Telangana Industries Minister KT Rama Rao.
Srinivas Sadu said: “We are delighted to collaborate with the Telangana govt on its vision of making the State a hub for global pharmaceutical requirements, by expanding our Bio-CDMO facilities at Shamirpet. This project investment is estimated to be about Rs400 crore and expected to generate employment to about 500 personnel.”
KTR adds: “I am delighted that Gland Pharma will be investing Rs400 crore in expanding their footprint in Hyderabad and will create 500 more jobs in Telangana.”
