Vivint Pharma, a pharmaceutical company specialised in injectables, has decided to establish a state-of-the-art manufacturing facility in Genome Valley, located in the outskirts of Hyderabad, Telangana.
The company has announced investment of ₹400 crore in the new facility envisaging job potential of 1,000. This consolidates the State’s position as the global hub for innovations and inventions in the life sciences sector. Telangana made its mark in the global arena being host for the development of the COVID-19 vaccine.
The company made the announcement after the State delegation led by Chief Minister A. Revanth Reddy and IT Minister D. Sridhar Babu met the top management of the company. The announcement, according to officials, underscores Vivint Pharma’s commitment to expanding its footprint in India, particularly in Telangana, which has long been a destination for pharmaceutical and biotechnology companies.
Vivint Pharma had a facility in the Genome Valley set up with investments of ₹70 crore and the company had decided to consolidate its strengths to foray into international markets by establishing its first manufacturing plant in Telangana. It had already acquired 5.5 acres in Genome Valley.
Mr. Revanth Reddy said Telangana had always been at the forefront of fostering innovation in the life sciences sector and Vivint Pharma’s investment would add further impetus to the growth story. Mr. Sridhar Babu said the agreement was a testament to the business friendly environment nurtured by the Congress Government. Genome Valley continued to be a magnet for pharmaceutical firms and Vivint Pharma’s decision to set up a manufacturing facility reaffirmed the State’s leadership in life sciences domain.