Hyderabad: In a major boost, Vivint Pharma, an injectables pharmaceutical company has announced an investment of Rs 400 crore for a state-of-the-art injectables manufacturing facility which will come up in Genome Valley, Hyderabad.
The company will also employ 1000 people from Telangana.
The injectables facility will focus on the development and production of high-quality injectable drugs in the oncology and critical care space for both domestic and international markets.
Furthermore, the pharmaceutical company will also establish its first manufacturing plant and has acquired 5.5 acres in Genome Valley.
The company’s decision to invest in Genome Valley aligns with its strategy to leverage India’s skilled workforce and the region’s advanced manufacturing capabilities to meet the growing global demand for pharmaceutical products.
“This investment is a testament to the business-friendly environment nurtured by our Government. Genome Valley continues to be a magnet for pharmaceutical companies, and Vivint Pharma’s decision to set up a new manufacturing facility here reaffirms our leadership in the life sciences domain,” state IT minister D Sridhar Babu said.
Other investments and jobs
Earlier, Arcesium, a leading provider of technology and service solutions for asset managers, announced the expansion of its Hyderabad facility by boosting employment opportunities for 500 high-end and tech talent in the next two years.
Trigyn Technologies, an IT service management company, has signed an agreement with the Telangana government to establish an AI innovation and delivery centre in Hyderabad, providing jobs and training to at least 1000 IT role aspirants in the state.
On August 4, Cognizant announced its expansion plans in Hyderabad with a new facility to come up with a million sqft, to create 15,000 new jobs. The foundation for this new agreement was laid out during the visit of the state government’s delegation led by the chief minister to Davos earlier this year.
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