Hyderabad: On Monday, Gland Pharma declared its plan to invest INR 400 crore in order to enhance the capabilities of its existing Genome Valley facility in manufacturing biologicals, biosimilars, antibodies, and recombinant insulin.
According to an official release by the state government, the expanded plant is expected to generate employment for over 500 qualified, skilled, and semi-skilled workers who will mainly be recruited from the nearby areas
in February of last year, the company invested INR 300 crore to build their biopharmaceutical facility at Genome Valley, aimed at producing vaccines, biologicals, biosimilars, antibodies, and other related products.
The enlarged facility is intended to comply with both national and international manufacturing regulations for biological products, as appropriate, and will be constructed in accordance with the respective product line’s Good Manufacturing Practice (GMP) guidelines, as stated in the announcement.
This statement followed a meeting between Telangana Industries Minister KT Rama Rao and Gland Pharma’s Managing Director and CEO, Srinivas Sadu.
Delighted to announce that @glandpharma is expanding their footprint in Genome Valley by investing ₹ 400 crores and creating 500 more jobs for advance areas such as biologicals
— KTR (@KTRBRS) February 20, 2023
In reference to the expansion of their Bio-CDMO facilities in Shamirpet and the government’s vision of transforming the state into a global pharmaceutical hub, Srinivas Sadu remarked, “We are pleased to partner with the Telangana government on this venture. The project’s investment is estimated at approximately INR 400 crore and is projected to provide employment for roughly 500 individuals.”
Expressing his pleasure over Gland Pharma’s plan to expand its presence in Hyderabad and generate 500 jobs, Rama Rao stated, “I am thrilled to learn about their INR 400 crore investment.”