On Monday, September 16, 2024, Laurus Labs officially inaugurated a research and development (R&D) center in Hyderabad’s Genome Valley, aimed at supporting the contract development and manufacturing organization (CDMO) business of the generic drugmaker.
Laurus Labs has invested ₹250 crore in establishing a new 2 lakh sq ft research and development (R&D) center, equipped with modern laboratories and state-of-the-art infrastructure, in Hyderabad’s IKP Knowledge Park. The facility, inaugurated by Industries and IT Minister D. Sridhar Babu, alongside Laurus Labs founder and CEO Satyanarayana Chava, will provide job opportunities for over 800 people.
Designed to foster innovation, the cutting-edge facility aligns with the company’s mission of developing “Chemistry for Better Living.” Mr. Chava highlighted that this is their fifth R&D center, a testament to Laurus Labs’ commitment to innovation and excellence. “We believe this facility will help us create groundbreaking solutions to address unmet medical needs,” he said.
The Minister’s office also noted that Laurus Labs, in collaboration with European company KrKa, is setting up a cutting-edge manufacturing facility. Together, the new R&D and manufacturing centers represent a total investment of ₹2,250 crore over the next four years and will generate 2,800 jobs.
