Investments in Telangana announced at BioAsia 2016

Hyderabad, Feb 10 (INN): The 13th edition of BioAsia, Asia's largest Biotechnology and Life-sciences forum facilitated the announcement of investments from Ferring Pharmaceuticals Pvt Ltd - A Sweden based world leader in Peptide Hormones in association with Government of Telangana.

Industries Minister Jupally Krishna Rao, along with Ferring Pharmacheuticals President and COO Michel Pettigrew, announced the development at BioAsia 2016, on the 3rd day of the event at HICC - Hyderabad International Convention Center.

Jupally said, 'BioAsia 2016 has been a grand success, more than 1,300 delegates have attended from more than 50 countries. At BioAsia 2016, close to Rs. 1,000 Crores of MoUs were awarded to biotech companies. Ferring Pharmaceuticals, owing to the excellent state policies and infrastructure, skilled manpower, innovative policies like TS 'iPAAS and availability of government owned land; have confirmed a $25 mn investment in Telangana. The company plans to invest in 2 phases. The first phase will constitute of the R&D Center. The company has further expressed their interest to also have their commercial and manufacturing units in Telangana. We are happy to associate with Ferrring Pharmaceutical - a globally renowned firm of high repute and welcome their presence here.'

'We are also in the process of building a world class Pharma City. At par with International standards and similar to what is there in China and Europe. Close to 4,000 acres land has been finalised for the Pharma City and we hope to have many more companies coming to Hyderabad. We already have many global companies in sectors such as Aerospace, Engineering R&D, Precision engineering, IT/ITES etc confirming to set up shop in Hyderabad. Boeing has confirmed seeting up a facility in Hyderabad. We are hopeful that in the pharma, biotech and life-sciences sector also we will receive similar traction and many globally acclaimed names will be coming to Hyderabad soon,' he added.

Commenting on the occasion, Michel Pettigrew said, 'We scouted across the country while deciding on the location and finalized on Hyderabad, Telangana. Infrastructure, Quality Talent, Advanced Education System and the warm support from the authorities of the State; have attracted us to Hyderabad. This is the first time I am visiting the region and was pleasantly surprised with the infrastructure. We plan to develop fully integrated facilities here including R&D, Commercial and Manufacturing units."

The facility in Hyderabad will include pharmaceutical activities and development of molecules and drugs differently.