India's largest biopharmaceutical company Biocon will expand its presence in Hyderabad while its subsidiary Syngene will set up a research and developmentm an official statement said on Friday.
The expansion and new facility are expected to create 1,500 jobs, the company announced on the sidelines of 15th BioAsia.
Biocon will increase its presence in APIs (Active Pharmaceutical Ingredients)/ Intermediates to add 500 new jobs, said a statement from the office of Telangana's Industry Minister K. T. Rama Rao, who met Biocon MD Kiran Mazumdar Shaw.
According to Hindu report, a senior official of the State Government institution said the API facility in Pashamylaram is on 10 acres and the company had sought 2.5 acres more for the expansion. The proposed investment would be around Rs 150 crore, he added.
The R&D lab will come up in Genome Valley to generate another 1,000 high-tech jobs.
The minister gave an overview of the infrastructure that the state government is developing including Pharma City, Medical Devices Park and Genome Valley Phase 2.
As per a Telangana Today report, KTR also told Shaw about the startup ecosystem in the state and a few interesting startups in the healthcare and pharma space. He further assured her of facilitating possivle collaborations with the top 20 startups by organising a meeting with them.
Earlier, a business delegation headed by Thailand's Deputy Commerce Minister Chutima Bunyapraphasara,met Ramo Rao, who explained about the state's proactive business environment and how the state has ranked number one in Ease of Doing Business index. He gave an overview of various priority sectors like pharma, life sciences, aviation, food processing etc.
During a meeting with Italian Consul General in Mumbai Stefania Costanza, the minister said that the startup state of Telangana has become a role model state in attracting investments.
Rama Rao also met Terri Bresenham, CEO & President, Sustainable Healthcare Division, GE, who expressed interest to collaborate with Telangana Academy of Skill & Knowledge in healthcare skilling.