Telangana: Vivint Pharma to invest Rs 400 crore in Genome Valley
HYDERABAD: Vivint Pharma, an injectables pharmaceutical company, has announced its plans to establish a state-of-the-art injectables manufacturing facility in Genome Valley, Hyderabad.
The company will be investing Rs 400 crore in the new facility with the potential to employ 1,000 people, further solidifying Telangana’s position as a global hub for life sciences. The announcement was made during a high-level meeting with Chief Minister A Revanth Reddy and IT Minister D Sridhar Babu, in the US.
The company has an R&D centre in Genome Valley and has invested about Rs 70 crore in the facility. To consolidate its strengths and foray into international markets, the company has decided to establish its first manufacturing plant and has acquired 5.5 acres in Genome Valley.
“I am delighted at Vivint Pharma’s decision to invest in Genome Valley. Telangana has always been at the forefront of fostering innovation in the life sciences sector, and this investment will add further impetus,” the CM said.