Telangana Industries and IT Minister K.T.Rama Rao on Monday said the dream and vision of growing the life sciences sector to over $100 billion looks plausible.
“We remain committed,” he said, seeking to highlight how the sector in Telangana responded with resilience and witnessed tremendous growth amid the COVID-19 pandemic. The sector, in the State, attracted about ₹3,700 crore investments in the last one year with an employment potential for around 14,000 people, he told the inaugural session of BioAsia 2021.
Moment in spotlight
According to the Minister, with scientists and entrepreneurs giving the sector its moment in the spotlight by accelerating development of vaccines, diagnostics and therapeutics Hyderabad’s life sciences ecosystem came to the fore and displayed fortitude.
“I take pride in saying Hyderabad rose to the occasion… our position as the vaccine capital of the world was bolstered and world is looking to India and Hyderabad,” he said.
Mr.Rao, who earlier presented BioAsia’s Genome Valley Excellence Award to Bharat Biotech, said the company’s “remarkable contribution and commitment to develop India’s first indigenous vaccine for COVID-19 [Covaxin]” as well as efforts of other vaccine makers Biological E and Indian Immunologicals are laudable.
Noting how Hetero Pharma and Dr.Reddy’s Laboratories were set to augment global supply by manufacturing and distributing Russian vaccine Sputnik and Aurobindo Pharma is setting up a vaccine manufacturing facility with a capacity of about 450 million doses, he said “all these highlight the position of Hyderabad as the vaccine capital… extremely confident significant global population will be immunised with vaccines produced in Hyderabad.”
Vision 2030
Chairman of Telangana Life Sciences Advisory Committee and pharma major Dr.Reddy’s Laboratories K.Satish Reddy told the gathering that the State sought to emerge as one of the top life sciences clusters in Asia by 2030. The vision was to contribute to the growth of the life sciences sector in Telangana from the existing around $13 billion to $50 billion in 10 years. There is potential to touch $100 billion, he said.
A report of the Committee last year had said to realise the $50 billion in cluster revenues vision (and $100 billion ecosystem valuation) in 10 years, the sector ought to grow around 15% as against the 12% at present.
Bharat Biotech founder and CMD Krishna Ella, who received the Genome Valley Excellence Award along with JMD Suchitra Ella, said the recognition is for all the entrepreneurs who contributed to the emergence of Hyderabad as a vaccine hub. Almost 65% of vaccines made in India come from Hyderabad.
On pandemic vaccines, he said “anything in future will also come only from Hyderabad… with new entrants, it is going to be bigger game for India and vaccines”.
This is the 18th edition of BioAsia and the two-day event devoted to life sciences is being organised by Telangana government.
