Biotech firm Biological E has announced an investment of over Rs 1,800 crore towards expanding its facilities and operations in Hyderabad.
The expansion investment is primarily to ramp up the manufacturing of vaccines like Janssen Covid vaccine, MR Vaccine, PCV vaccine, Typhoid vaccine, Covid-19 vaccine, Tetanus Toxide
Ampoules, IPV vaccine and Pertussis vaccine, biological APIs and formulations, speciality Generic Injectables and R&D.
The plan “to cement Hyderabad’s position as vaccine capital of the world” would create employment for over 2,500 people in the company’s three facilities in the Genome Valley here.
The announcement was made following a meeting between industries minister KT Rama Rao and Mahima Datla, BE Managing Director on Thursday. Biological E activities will be located in the Genome Valley, India’s first organised cluster for life sciences R&D and clean manufacturing activities; home to more than 200 companies with a scientific workforce
of about 15,000 professionals.
The valley has the presence of marquee global names like Novartis, GlaxoSmithKline, Ferring Pharma, Chemo, DuPont, Ashland, United States Pharmacopeia, Lonza amongst many others.
BE had secured funding from the US International Development Finance Corporation (DFC) to the tune of $50 million to expand the capacity to produce Covid-19 vaccines.
BE developed one of the indigenous Covid-19 vaccines in the country named “Corbevax,” which had received the Drugs Controller General of India (DCGI) approval for emergency use for the 5-12-year age group.
Published 21 July 2022, 16:33 IST