The Hindu Business Line : US biotech firm to set up unit at Genome Valley

GENOME Valley, the country's first modern biotech cluster situated in the outskirts of Hyderabad, has succeeded in attracting one of the US-based global biotech majors.

Genome Valley, which provides world-class infrastructure, has already roped in 14 biotechnology companies with investments around Rs 600 crore.

Further, the Genome Valley is currently on the verge of securing another project from a German biotech and pharmaceutical giant. Both the projects are for setting up of research and manufacturing facilities.

Sources in the State Industries Ministry told Business Line that Sigma-Aldrich Corporation, the US-based $1.2-billion leading life science company, has entered into an agreement with the Shapoorji Pallonji Biotech Park, the leading infrastructure promoter in the Genome Valley to set up a research and development centre as well as a pilot manufacturing facility. The US biotech major is likely to invest Rs 125 crore in the new facility. Sigma-Aldrich is into the manufacture of biochemical and organic chemical products and kits used in scientific and genomic research, biotechnology, pharmaceutical development, the diagnosis of disease and chemical manufacturing.

Sources said the 2.6-billion euros German pharmaceuticals and chemicals giant Altana AG is currently at an advanced stage of discussions with the Government of Andhra Pradesh for setting up its facility in the SP Biotech Park. The details on the land required for setting up of the project and the investments were being worked out.

Altana AG, one of Europe's most profitable companies, has two major divisions - pharmaceuticals and chemicals. "While we could successfully attract investments in the range of around Rs 600 crore in the first phase of the SP Biotech Park, we expect the investments to cross the Rs 1,000 crore-mark in the second phase," the official said.

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