Aragen Life Sciences will expand its operations in Hyderabad with an investment of ₹2,000 crore, leading to 1,500 new jobs.
The expansion of its facility in Mallapur, Telangana, is primarily targeted towards drug discovery, development, and manufacturing for the global life sciences industry.
The investment plans were announced after a meeting between Telangana Chief Minister A Revanth Reddy and Manni Kantipudi, whole-time Director and CEO, Aragen Life Sciences, at the ongoing annual meeting of the World Economic Forum in Davos.
“I am delighted that Aragen Life Sciences, a global leader in pharma, has chosen massive investment plans in Hyderabad. This shows the new government’s resolve to build a next-level vibrant ecosystem, extraordinary infrastructure and showcasing our rich talent pool that can drive innovation to the works,’‘ CM Reddy said after the meeting.
Kantipudi said, “We are excited about our five-year expansion plans and have decided to invest ₹2,000 crore in Hyderabad, Telangana. Chief Minister Revanth Reddy’s leadership inspires confidence that Hyderabad will consolidate its undisputed national status as headquarters for CROs (contract research organisations) and CDMOs (contract development and manufacturing organisations) over the years.”
Hyderabad offers modern infrastructure, access to the best scientific talent in the country, a strong network of suppliers, and an ecosystem that allows for innovation in digital technologies, he said.
Hyderabad serves more than 1,000 innovators globally in research and development of new drugs and medical devices.
Aragen has over 20 years of experience in providing contract research, development and manufacturing services across the drug development continuum, with a focus on early-stage discovery and development of new molecular entities (NMEs), according to a release.