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Hyderabad, April 25 (PMI): IT & Industries Minister KT Rama Rao inaugurated a pharmaceutical plant, Ferring Laboratories, at the Genome Valley, here on Monday.
The Switzerland headquartered company has set up its plant in the city at the investment of Euro 30million ( about Rs.246 crore) and it is expected to provide employment to some 110 people. Ferring is a research-driven, specialty biopharmaceutical group that focuses on reproductive medicine and maternal health, and in specialty areas within gastroenterology and urology.
The company has 12 research and development facilities across the globe. The Hyderabad unit has state-of-the-art facilities with an integrated research and development wing.
Speaking on the occasion, IT Minister KT Rama Rao said Ferring coming to Hyderabad is a testimony to the presence of life sciences ecosystem and availability of quality manpower in the city. The company initially looked at Maharashtra for setting up the facility but opted to come to Hyderabad in view of the availability of talent and proactive and industry-friendly approach of the Telangana Government, he said, adding that the State government was encouraging the life sciences sector in a big way and the infrastructure and facilities in the Genome Valley are on par with the world standards.
Ferring Laboratories Managing Director Anindya Ghosh, Industries Principal Secretary Jayesh Ranjan, Lifesciences Director Shakti Nagappan and others were present. (PMI)
