While Granules India will invest Rs 400 crore, Laurus Labs will invest Rs 300 crore
Hyderabad-based pharma companies, Granules India and Laurus Labs separately announced major investments in Genome Valley. Granules India said it would be setting up a facility with a capacity to manufacture 10 billion units of finished dosages at an investment of Rs 400 crore.
The proposed unit would generate employment for about 1,600 people, an official release from Industries Minister KT Rama Rao’s office said.
Laurus Labs announced setting up of a formulation facility with a unit capacity of five billion. The company plans to invest Rs 300 crores in two phases of Rs 150 crore each. Phase one of the plant is expected to provide employment to about 150 people, it said.
Granules India has manufacturing sites in eight locations and presence in 75 countries. The company already operates the world’s largest Commercial Pharmaceutical Formulation Intermediates (PFI) Facility at nearby Gagillapur.
Krishna Prasad Chigurupati, CMD, Granules India, met Rama Rao to formally make this announcement, it said.
Satyanarayana Chava, CEO, Laurus Labs, also separately met the industries minister along with his team before making the announcement. Industries Department Principal Secretary Jayesh Ranjan was also present in the meeting.
Rama Rao thanked the leadership of both the companies for choosing to invest in Telangana and said the state government would provide all possible support to them.