A number of US firms focused on research and innovation, especially from the life sciences sector, either announced investment plans or committed to explore opportunities in Telangana during the recent tour of Industries and IT Minister K.T.Rama Rao to that country.
Discussions with top leadership of pharma, IT and electric vehicle firms, visits to facilities and interactions with the diaspora figured in schedule of Mr. Rama Rao and the official delegation that visited Los Angeles, San Diego, San Jose, Boston and New York. Mr. Rama Rao highlighted the policy measures initiated by Telangana to attract investments and benefits of investing in the industry-friendly State.
Terming it as as a successful US trip, the Minister tweeted: “It's a wrap! One week. 35 business meetings. Four sector round tables. Three large meet and greet events. Over ₹7,500 crore of investments.”
In the last leg of the delegation’s tour, complex generic and specialty drugs firm Slayback Pharma had announced plans to expand operations in Hyderabad by opening a cGMP lab and manufacturing facility with an investment of $20 million over the next three years. The United States Pharmacopeia said it has decided to invest in a New Pharmaceutical Continuous Manufacturing (PCM) Lab in Genome Valley, entailing an additional capital investment of $200,000.
The New York headquartered Curia Global (previously known as AMRI Global) said it has set up its Global Shared Services Centre in Hyderabad and pursuing plans to double headcount to 200 people in the next 12 months.
Mr. Rama Rao met with top level executives of several firms, including those of pharma majors Pfizer, J&J and GSK, showcasing to them Hyderabad’s strengths in the Life Sciences sector as well as opportunities available to investors. He also met Advent International Managing Partner John Maldonado to understand the private equity strategy and plans of Advent for healthcare and pharmaceutical sector in India and Hyderabad as well as ITServe Alliance member firms, whom he urged to become partners in the State’s progress.
Other announcements coinciding with the delegation’s visit were medical devices maker Confluent choosing Hyderabad for India foray to manufacture Nitinol products, Fishin’ Company to invest ₹1,000 crore on creating a fully integrated freshwater fish culture ecosystem in Telangana and scientific instrumentation, equipment, reagents and consumables firm ThermoFisher Scientific planning to inaugurate its new R&D facility in Hyderabad.
