Granules India, Laurus Labs to invest Rs 700 cr in Hyd

Granules India, Laurus Labs announce new investments worth Rs 700 crore in Hyderabad

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Two noted pharma companies on Tuesday announced major investments to the tune of Rs 700 crore in Hyderabad.

Granules India, a Hyderabad-based pharmaceutical company, has announced an investment of Rs 400 crore to set up a manufacturing facility in the Genome Valley, Hyderabad. The proposed unit will generate employment for about 1,600 people and would have a capacity to manufacture 10 billion units of finished dosages. 

At the same time, Laurus Labs, a research-driven pharmaceutical manufacturing company has announced setting up of a formulation facility with a unit capacity of five billion. The company plans to invest Rs 300 crore in two phases of Rs 150 crore each. Phase one of the plant is expected to provide employment to about 150 people.

Krishna Prasad Chigurupati, Chairman & Managing Director of Granules India Limited and Satyanarayana Chava, CEO, Laurus Labs, met Telangana Minister for Industries K T Rama Rao on Tuesday. 

Laurus Labs has its R&D facility in IKP Knowledge Park, Hyderabad and also operates six manufacturing facilities in Visakhapatnam in Andhra Pradesh. All these facilities have been certified and approved by the WHO, USFDA, NIP Hungary, and other renowned agencies. 

Laurus Labs is one of the leading manufacturers of API (Active Pharmaceutical Ingredient) for anti-retroviral (ARV), oncology, cardio-vascular, anti-diabetics, anti-asthma and gastroenterology. 

Granules India has manufacturing sites in eight locations and a presence in 75 countries across the globe. The company operates the world's largest commercial pharmaceutical formulation intermediates (PFI) facility at Gagillapur near Hyderabad, a statement from KTR Rao's office said.

KTR thanked the leadership of both Granules India and Laurus Labs for choosing to invest in Telangana, while assuring support from the government to these companies.

The minister claimed that proactive industrial policies of K Chandrashekar Rao government are attracting global leaders in IT, pharma, textiles, aerospace and defence and other sectors to Hyderabad and other parts of Telangana.