HYDERABAD: Swiss major Ferring Pharmaceuticals has commenced operations in Hyderabad after the inauguration of world class manufacturing facility at Genome Valley.
While inaugurating the plant, IT & Industries Minister KT Rama Rao said that this facility was initially planned in Maharashtra and later moved to Hyderabad and this proves the vibrant ecosystem of life sciences in Telangana.
"This facility has provided employment opportunities for 110. The company has invested around 30 million euros for this facility. Life sciences in Telangana is currently project at Rs 50 billions and we are in the process of doubling it to Rs 100 billion in coming years," he said.
Ferring Pharmaceuticals is a Swiss multinational biopharmaceutical company specialising in areas such as reproductive health, maternal health, gastroenterology and urology. Ferring has been developing treatments for mothers and babies for over 50 years.
Headquartered in Saint-Prex, Switzerland, Ferring has its own manufacturing facilities in several European countries, in South America, China, India, and the United States. The company is operating its subsidiaries in nearly 60 countries and markets its products in 110 countries.