HYDERABAD: Telangana received 141 investments amounting to nearly 36,000 crore in the life sciences (LS) sector in the past year alone and the state govt is preparing to introduce a dedicated LS policy by the end of the year, industries & IT minister Duddilla Sridhar Babu said here on Thursday.
These investments, made by global giants such as Cigna’s Evernorth, Amgen, Zoetis, BMS, Sanofi, HCA Healthcare, and Olympus through the establishment of global capability centres (GCCs) and innovation centres, as well as manufacturing and R&D investments by Indian players like Hetero Labs, Aragen, Laurus Labs, among others, will create around 51,000 direct jobs and another 1.5 lakh indirect jobs, he said.
Providing a detailed breakup, he said in the past 10-11 months, the state attracted 59 pharma manufacturing investments, 49 pharma formulations and R&D-related investments, 13 GCCs, nine on vaccines, biosimilars and biotech, six medical devices and healthcare-related investments, and three investments in Genome Valley for creation of plug & play infrastructure and lab spaces.
The largest among these include Vivint Pharma’s 4000 crore investment in setting up a new injectables factory that will employ 1,000 people, Sanofi’s 3,600 crore GCC expansion that will create 2,600 jobs, Amgen’s new GCC that will create over 3,000 jobs and Japanese giant Takeda’s tie-up with Biological E to set up capacities to produce five crore dengue vaccines per annum.
Sridhar Babu said the state govt, which is on the verge of completing one year, is in the process of formulating a dedicated life sciences policy that will be unveiled by chief minister A Reventh Reddy shortly.
“Before December end, we will roll out the dedicated LS policy so that we can attract new players to Telangana during BioAsia 2025. The policy will further streamline processes, attract investments, foster innovation, and drive sustainable growth in this critical sector. It will be designed to address the evolving needs of the LS industry and ensure that Telangana consolidates its position as an important hub in the global LS value chain,” he explained.
The minister also said after the Telangana global AI summit in earlier this year, govt is now kicking off sector-specific AI conferences, starting with a day-long convention on ‘Catalyst of Change: AI in Healthcare’ on November 18 to deliberate on the implementation of AI in the sector and unlock its potential to revolutionise healthcare.
