The proposed green field pharmaceutical formulations manufacturing unit at Malipada, Bhubaneswar with an initial investment of Rs 100 crores is envisaged to be one of the biggest pharmaceutical manufacturing units in the region
Cadila Pharmaceuticals has signed an Investment Intention Form (IIF) with the Government of Odisha for setting up a state-of-the-art pharmaceutical formulation manufacturing unit under the Odisha government’s newly-launched Industrial Policy 2022.
The IIF was signed at the Make in Odisha Conclave 2022, the flagship global investors’ meet of Odisha, by Hemant Sharma, Principal Secretary of Odisha’s Industries Department, and Raj Prakash Vyas, President of Corporate Affairs at Cadila Pharmaceuticals in the presence of Odisha Chief Minister Naveen Patnaik and distinguished corporate leaders.
“Among other sectors, the pharmaceuticals and healthcare sector is considered as a thrust sector for the Government of Odisha. We warmly welcome Cadila Pharmaceuticals’ proactive step to JOIN THE JUGGERNAUT and set up a pharmaceuticals formulation manufacturing unit with an investment interest of Rs 100 crore in Odisha, and assure to extend all possible end-to-end support from the Government of Odisha to fast track its establishment,” said Sharma.
“Government of Odisha’s conducive Industrial Policy 2022 ensures affordable medication and healthcare to the poorest of the poor. Cadila Pharmaceuticals with its innovative products in various therapeutic areas, will be a valued addition to Odisha’s growth of the economy and health security,” said Shalini Pandit, Commissioner-cum-Secretary, Health & Family Welfare, Government of Odisha.
Subodh Kumar Nayak, Drugs Controller, Government of Odisha conveyed his best wishes to Cadila Pharmaceuticals and assured all possible support from regulatory aspects in the state.
“The planned state-of-the-art pharmaceutical formulation manufacturing unit in Odisha is a strategic engagement for Cadila Pharmaceuticals in its business expansion and diversification strategy. It will also go a long way in establishing a strong presence in the eastern part of the country,” said Raj Prakash Vyas, President – Corporate Affairs.
The proposed green field pharmaceutical formulations manufacturing unit at Malipada, Bhubaneswar with an initial investment of Rs 100 crores is envisaged to be one of the biggest pharmaceutical manufacturing units in the region. Government of Odisha will provide fast-track approvals to support setting up the said project.
The Make in Odisha Conclave is a key strategic engagement to showcase the unique capabilities and business environment Odisha offers. The third edition of the conclave culminated in Bhubaneswar on Saturday with investment proposals of Rs 10.5 trillion, according to the Government of Odisha.
