Dr Reddys Laboratories arm Aurigene Pharmaceutical Services Ltd (APSL) plans to invest $40 million (330 crore approx.) in setting up a development and manufacturing facility in Hyderabads Genome Valley.
The contract research, development and manufacturing services organisation (CDMO) is a step-down subsidiary of Dr Reddys Labs.
The proposed facility will focus on Niche areas such as therapeutic proteins, antibodies, and viral vectors, a communique put out byTelanganaindustries minister KT Rama Raos office said after Dr Reddys Labs chairman Satish Reddy and APSL CEO AkhilRavimet him and briefed him about the upcoming project.
The Dr Reddys top brass informed KTR that Aurigene would be collaborating with global biotech innovators to facilitate the development and introduction of innovative medicines into the market and the facility would generate about 200 direct jobs and another 60-70 indirect jobs within three years of the .
The company also expects to significantly scale-up its investments in the future. KTR said Aurigenes investment is aligned perfectly with the Telangana governments vision to enhance complex manufacturing at scale and will not only contribute to the Growth of the biotherapeutics CDMO ecosystem in Hyderabad but will also reinforce the governments vision to promote the states biologics capabilities.