US Mylan Labs to Expand Base in AP with $5 b Investment

USIBC keen on promoting healthcare in AP; expediting work to make Vizag smart city

Published: 21st April 2015 06:04 AM  |   Last Updated: 21st April 2015 06:04 AM   |  A+A-

HYDERABAD: The US-based generic drug manufacturer, Mylan Laboratories Limited (MLL), has announced plans to invest $5 billion to expand its presence in Andhra Pradesh.

MLL’s Senior vice-president (Legal) Rajeev Mukundan informed chief minister N Chandrababu Naidu here on Monday that the company was looking at expanding its presence in the state through additional investment, according to a press release from the AP CMO.

Mukundan was a member of the US-India Business Council (USIBC) delegation, led by its executive vice-president Diane Farrell, which called on Chandrababu Naidu at the Lake View Guesthouse here. Mukundan told Naidu that his company already had four facilities in Vizag. “We are looking at expanding our presence with an additional investment of $5 b in AP,” he added.

Meanwhile, Srini Srinivasan, managing director of Hospira, who was also part of the USIBC delegation, told Naidu that the company had already invested Rs 2,500 cr in its manufacturing facility in Visakhapatnam.

Big Biz from US.PNGA delegate from Johnson & Johnson evinced interest in working with the AP government on reducing infant and maternal mortality rate, women’s health and hygiene. Some other delegates expressed their keenness on participating in the immunization programmes of the government.

During the meeting, the chief minister explained about the advantages of AP having abundant water, 24X7 power and a long coastline which made it a potential logistics hub in South East Asia. Stating that he aimed to see AP as a healthcare hub, Naidu told the delegation that health and education sectors werehis government’s priorities. “We are focusing on preventive as well as curative healthcare,” he added.

‘’From educating people about healthy eating and importance of hygiene to medical tourism would be part of the government’s vision, Naidu said.

“I’m open to public and private investments in healthcare. If you have proposals, we can discuss them with our Health Advisory Committee and take them forward,” Naidu told the delegation. He added that e-healthcare was also on his agenda. He recalled his past experiences of creating a Genome Valley in Hyderabad for pharma giants and also his efforts in making healthcare majors like Apollo set up their hospitals in Hyderabad.

Diane Farrell informed Naidu that the USIBC was expediting the work on making Vizag a smart city. “We’re talking to companies and investors which/ who are interested in making Vizag a smart city,” she added. Diane also invited Naidu to visit the US and asked the AP government to organise a road show there on the investment opportunities in AP.

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