HYDERABAD: IT and Industries Minister D Sridhar Babu on Thursday announced that the Congress government has secured investments worth Rs 35,820 crore from 141 Indian and global companies in pharmaceuticals, vaccines, life sciences and research sector since it came to power on December 7, 2023.
He highlighted that several of these companies have already begun their expansion, including, Sanofi, BMS, and Providence - and are beginning production work. These investments are expected to create 51,086 direct and 1.50 lakh indirect jobs.
The minister was speaking at Hyderabad International Convention Centre (HICC) ahead of the one year completion of the state government’s tenure and AI Healthcare Innovation Summit scheduled for November 18 at Westin Mindspace.
“These investments highlight the government’s ability to attract companies across pharma, healthcare, health insurance, among others. We worked aggressively to promote Hyderabad as a preferred destination.
Telangana is emerging as a central hub for pharmaceutical and life sciences companies in India, with plans to establish pharma clusters in multiple locations, not just one. To ensure sustainable growth, all facilities in these industries are required to implement advanced pollution control systems as part of their regulatory approvals,” Sridhar Babu said, asserting that health of people is the government’s top priority.
Plans on to integrate AI in life sciences
Regarding the upcoming AI Healthcare Innovation Summit, which will outline a roadmap for the Bio Asia Summit 2025, the minister said the focus will be on integrating AI into the life sciences sector and how it can revolutionalise healthcare. “Initially, we are trying to incorporate AI in healthcare for which industry leaders and experts will provide suggestions at the summit.
Following this, we plan to include AI in the manufacturing and education sectors. We are also deploying two AI engineers in each government department to incorporate AI into day-to-day functions and sensitise the staff,” the minister added, revealing that an AI Education Summit is also being planned.
New life sciences policy
Sridhar Babu further revealed that CM Revanth Reddy is set to launch a new life sciences policy by December to streamline investment and innovation processes. The policy aims to provide land allocations and incentives for companies willing to establish operations in Telangana while noting that no other Indian state has yet formulated a comparable policy.
MAJOR INVESTMENTS
KrKA and Laurus Labs - Rs 2,000 crore investment in Genome Valley to establish pharmaceutical biopharmaceutical manufacturing, with Laurus Labs - R&D centre worth Rs 250 crore. Both investments to create 2,800 jobs
Japan’s Takeda Life Sciences along with Hyderabad-based Biological E to produce 5 crore doses of dengue vaccines annually for global distribution
Amgen - recently inaugurated GCC, will employ 3,000 people
Rx Propellant and Terminus Group’s - rs 2,000 crore investment in Genome Valley for innovation and R&D, to create 10,000 jobs
Thermo Fisher and Telangana govt - to establish the country’s first scale-up biological manufacturing facility and bioprocess design centre in Genome Valley.
Aragen, India’s leading CRO/CDMO - rs 2,000 crore expansion plan in Nacharam, to create 1,000 new jobs.
