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Telangana aims to make life sciences a $100 billion industry
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SME Times News Bureau | 23 Feb, 2021
Buoyed by the tremendous growth in the life sciences industry in
Telangana amidst the pandemic over the last one year, the state
government has set the vision to growing the sector to $100 billon
dollars by 2030.
"Our dream and vision of growing the life
sciences industry to over USD 100 billion looks plausible and we remain
committed to it," state's industry minister K. T. Rama Rao told Bio Asia
2021, the annual flagship event which began here on Monday.
The life sciences sector in Telangana in terms of value is $13 billion
while in terms of cluster revenues it is $50 billion. The potential for
next 10 years is to move up to $100 billion of ecosystem valuation,
said Dr Satish Reddy, Chairman, Reddy's Laboratories, who heads the
advisory committee constituted by the state government to prepare vision
2030 for the sector.
Referring to manufacturing of vaccines for
Covid-19 in Hyderabad, Rama Rao said Hyderabad's position as the
"vaccine capital of the world" was further bolstered. "I take pride in
saying that Hyderabad rose to the occasion and made an impact for the
world to witness. Our position as the vaccine capital of the world was
further bolstered and it is a matter of pride that the world is looking
to India and Hyderabad," he said.
KTR, as the minister is
popularly known, claimed that Hyderabad's life sciences ecosystem came
forward and showed its fortitude in the last one year. He pointed out
that when then US President Donald Trump requested Prime Minister
Narendra Modi for supply of Remdesivir, they had to look towards
Hyderabad.
He said the visit of foreign envoys from over 60
countries and that of the Prime Minister to Hyderabad's Genome Valley is
a testimony to the cluster's significance in the global context.
KTR
said Bharat Biotech's remarkable contribution and commitment to develop
India's first indigenous vaccine for Covid-19 is laudable. He also
termed the efforts of Biological E, Indian Immunologicals and others as
very significant and laudable. In addition, Hetero pharma and Dr.
Reddy's are augmenting the global supply by manufacturing and
distributing Russian vaccine Sputnik. Further, Aurobindo Pharma is
building world-class vaccine manufacturing facility with a capacity of
about 450 million doses.
He exuded confidence that significant
global population will be immunised with vaccines produced in Hyderabad
saying this is no small feat to accomplish.
He pointed out that
the life sciences sector in the state has attracted investments to the
tune of about Rs. 3,700 crores in last one year with an employment
potential for around 14,000 people.
"A feather in our cap has
been the approval of Umbralisib for cancer treatment. It is historic
because this is the first drug ever discovered in India and approved by
the US FDA. I am extremely proud that the discovery of Umbralisib is led
from Incozen's facility in Genome Valley."
He recalled that Sai
Life Sciences, a leading contract research organisation, inaugurated
its new Research & Development centre at Genome Valley with an
investment of about Rs. 400 crores. Syngene, which inaugurated its
campus in Genome Valley during last BioAsia, doubled the scientist count
to 225.
GVK Bio, another Hyderabad-based company focused on
supporting global innovators, is also expanding rapidly and will be
adding 600 new jobs this year in Hyderabad.
Granules India will
invest about Rs. 400 crore to set up a facility with capacity to
manufacture 10 billion units of finished dosages that will generate
employment for about 1,600 persons. Laurus Labs is investing Rs. 300
crores to set up a formulation facility in Genome Valley with a
capacity of 5 billion units.
Switzerland-based Ferring
Pharmaceuticals, which announced its entry into Genome Valley
previously, started operations last year.
A Canadian company
called Jamp Pharmaceutical had announced investment in Genome Valley in
2018 and their state-of-the-art facility in Genome Valley is nearing
completion. KTR will be inaugurating this facility next month.
The
Indian Council for Medical Research (ICMR) is also establishing the
country's largest National Animal Resource facility for biomedical
research in Genome Valley. This is expected to be inaugurated soon.
The
Bio Asia inaugural saw signing of a Memorandum of Understanding (MoU)
between the state government with Cytiva to set up a Biopharma scale up
facility - B-Hub in Genome valley. As eight out of 10 top selling drugs
globally today are biopharmaceuticals, B-Hub will help Telangana and
India in accelerating the growth of biopharmaceutical sector. KTR was
confident that Telangana will emerge the biopharmaceutical capital of
India.
He said he was personally bullish about the medical
devices sector. About 40 companies are establishing their manufacturing /
R&D facilities at the Medical Devices Park at Sultanpur in
Rangareddy district. Some of these companies have already started
commercial production and many of them are lined up for commencement by
end of this year.
The minister said global medical devices
major Medtronic's largest innovation and engineering center in Hyderabad
will be inaugurated next month. The company last year announced one of
their biggest investments - $170 million - globally r to establish the
facility.
On the pharma front, KTR said the government remained
committed to grounding the Hyderabad Pharma City project soon to support
India's pharma industry regain its leadership position in APIs and KSMs
offering significant cost and value benefits.
"In addition, we
are also working on several other exciting initiatives such as Digital
Medicine Hub, Institute for Cell and Gene Therapy, Flow Chemistry Hub, a
world class life sciences university, and many more to build strong
foundations for the next generation opportunities and to support our
aspirations," he added.
Dr Satish Reddy said Telangana's vision
is to emerge as Asia's pre-eminent innovation destination. "We also want
to help improve public health infrastructure accelerate clinical
research," he added.
Jayesh Ranjan, secretary, industry,
government of Telangana, said the 18th edition of Bio Asia was being
held despite the prevailing situation. He noted that annual life
sciences convention has evolved as pre-eminent global meeting for
researchers, academic, industry, stratups and governments.
The
two-day conference with the theme 'move the needle' is being held
virtually. He said 30,000 participants have registered for the event,
the highest in its history.
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