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Drug-makers Granules India Ltd and Laurus Labs have announced independent plans to set up new manufacturing facilities in Genome Valley, Hyderabad.
Granules India project
Granules India will invest ₹400 crore to set up a facility with a capacity of 10-billion unit of finished dosages. It will generate about 1,600 jobs.
Granules India has manufacturing sites in eight locations and presence in 75 countries across the globe. The company already operates the world’s largest commercial pharmaceutical formulation intermediates (PFI) Facility at Gagillapur near here.
Laurus Labs
Laurus Labs has also announced the setting up of a formulation facility. The company plans to invest ₹300 crore in two phases of ₹150 crore each. Laurus Labs has its R&D facility in IKP Knowledge Park, Hyderabad and also operates six manufacturing facilities in Visakhapatnam, Andhra Pradesh. All these facilities have been certified and approved by WHO, USFDA, NIP Hungary, and other renowned agencies.
Laurus Labs is one of the manufacturers of API for anti-retroviral, oncology, cardio-vascular, anti-diabetics, anti-asthma and gastroenterology.
The top executives of the two companies met KT Rama Rao, Minister for Industries, Government of Telangana on Tuesday and informed him of their respective investment plans.
These investments into the manufacturing sector will provide the much needed employment to local youth from Telangana, the Minister said in a release.
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