Hyderabad, Feb 20 (SocialNews.XYZ) Gland Pharma on Monday announced that it will invest over Rs 400 crore in Hyderabad's Genome Valley to add capabilities to their existing facility to manufacture biologicals, biosimilar, antibodies and recombinant insulin.
The expanded facility will have employment generation potential of more than 500 numbers of qualified, skilled and semi-skilled workforce to be recruited, mostly from the nearby places.
The company had established their biopharmaceutical facility in February last year at Genome Valley with an investment of Rs 300 crore to manufacture vaccines, biologicals, biosimilar, antibodies and others. Recruitment of 200 manpower already completed in the facility.
The expanded site is envisaged to meet the national and international regulations to be followed in the manufacturing of the biological products as applicable and shall be built under the GMP guidelines applicable for the respective product lines.
The announcement was made after Telangana Industries Minister K. T. Rama Rao's meeting with the Managing Director and Chief Executive Officer of Gland Pharma, Srinivas Sadu.
Currently, Gland Pharma operate eight manufacturing facilities in the country, with a finished formulation capacity of approximately 1,000 million units.
Srinivas Sadu said, "We are delighted to collaborate with the Telangana goverment on its vision of making the state a hub for global pharmaceutical requirements, by expanding our Bio-CDMO facilities in Shamirpet."
"This expansion truly demonstrates the strength of life sciences ecosystem in the city and Genome Valley," Rama Rao said.
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz