All of us know it, and yet we say it again. Hyderabad is the global hotspot for the pharma industry. There’s a lot happening on the domestic front, and the city has been attracting a lot of foreign investments, more so after KT Rama Rao’s recent visit to the US.
The global pharma biotech investments have already attracted around Rs 7500 crore of investment over the past one year. If one looks back a little, erstwhile Andhra Pradesh was a pioneer in the country in the field of bulk drugs. Given the conducive ecosystem in Hyderabad, it continues to attract investments.
Around 220 companies have invested in the pharma city, which is expected to provide employment to 35,000 people. Hyderabad has attracted investments in pharma, biotech, and medical devices arenas in the past one year, as per state government data.
One of the largest investments came from Canadian generic drug-maker Jamp Pharma to the tune of Rs 250 crore and $20 million by the US-backed Slayback. Then there have been domestic investments by SMT, which is India’s largest stent-maker that has invested Rs 530 crore in the medical device park.
The upcoming pharma city, medical devices park, along with the Genome Valley, will surely put Hyderabad as a major city on the world pharma map.
Now, Hyderabad has also gained the brand image as a vaccine biotech hub with Bharat Biotech producing Covaxin, Sputnik V of Russian Direct Investment Fund in collaboration with Dr. Reddy’s Laboratories, and Corbevax by Biological E.