Aurigene Pharma to set up facility with $40 million in Genome Valley
The Hindu
A step-down subsidiary of pharma major Dr.Reddy’s Laboratories, it intends to invest $40 million (around ₹330 crore), which will be generating around 200 direct jobs and 60-70 indirect employment opportunities over the next three years.
Contract research, development, and manufacturing services organisation Aurigene Pharmaceutical Services has decided to establish a state-of-the-art development and manufacturing facility focused on niche areas like therapeutic proteins, antibodies and viral vectors in Genome Valley, Hyderabad.
A step-down subsidiary of pharma major Dr.Reddy’s Laboratories, it intends to invest $40 million (around ₹330 crore), which will be generating around 200 direct jobs and 60-70 indirect employment opportunities over the next three years. The announcement from Industries and IT Minister K.T.Rama Rao’s office came after CEO Akhil Ravi and Dr.Reddy’s chairman Satish Reddy met and briefed him about the company’s plan on Tuesday.
“Delighted Aurigene has chosen Genome Valley to establish their R&D and manufacturing facility. The investment is aligned perfectly with the government’s vision to enhance complex manufacturing at scale... by investing in biotherapeutics discovery, Aurigene has further strengthened Hyderabad’s position as a preferred destination for biopharmaceutical research and production,” Mr.Rama Rao said in a release.
Aurigene said it envisions significant scaling-up of the investments in future, which would result in a multi-fold increase in employment prospects in very advanced science and manufacturing technologies. It would be collaborating with globally leading biotech innovators to facilitate development and introduction of innovative medicines into the market.
Venturing into novel therapies, particularly cell and gene therapies, with an intent to to play a pivotal role in making affordable medicines accessible to people of the country will figure in expansion plans of the facility, the company said.
“Excited to expand our infrastructure in Genome Valley... towards providing world-class services to biotech companies worldwide,” Mr.Ravi said.
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