Biocon plans to grow its presence in Telangana, a decision that will see the Bengaluru-based bio-pharmaceutical firm expand the existing API unit in the city and through Syngene, its subsidiary, set up a research and development (R&D) facility in Genome Valley.
Together, the two projects would create 1,500 jobs, a good chunk of them high-skilled ones.
The company’s expansion plan for the State was announced after a meeting of Biocon Managing Director Kiran Mazumdar Shaw and the State IT and Industries Minister K.T. Rama Rao on the sidelines of BioAsia 2018 here on Friday.
Biocon will expand its presence in Hyderabad on APIs/Intermediates and thereby add 500 new jobs, a release from the Minister’s office said. A senior official of the State Government institution said the API facility in Pashamylaram is on 10 acres and the company had sought 2.5 acres more for the expansion. The proposed investment would be around ₹150 crore, he added.
According to the release, the Minister, during the meeting, gave an overview of the infrastructure available in the State and being developed by the State Government, including the Hyderabad Pharma City, Medical Devices Park and Genome Valley Phase 2.
A cluster of research operations of life sciences firm Genome Valley is located on the city outskirts.
He also briefed Ms. Shaw about the start-up ecosystem and a few interesting start-ups in the healthcare and pharma sectors.
The release said a business delegation led by Chutima Bunyapraphasara, Deputy Minister of Commerce, Thailand, also met Mr. Rao on the sidelines of the event during which the latter highlighted the State’s proactive business environment and its top ranking in Ease of Doing Business index.
Another meeting, Mr. Rao had at the event was with the Italian Consul General, based in Mumbai, Stefania Costanza. The Consul General said a delegation of Italian Chamber of Commerce would soon be visiting Telangana to explore business opportunities.
The Minister also met CEO and President (Sustainable Healthcare Division) of GE Terri Bresenham during which the latter said the company was interested in collaborating with Telangana Academy of Skill & Knowledge (TASK) in healthcare skilling.