Indus Gene to invest Rs 675 crore in Anantapur

Visakhapatnam: Indus Gene Expressions, a US-based biotechnology world-class contract manufacturing firm for biopharmaceuticals with a highly skilled pool of scientists and biotechnologies will invest Rs 675 crore on its greenfield facility being established at Chilamathur mandal in Anantapur district of Andhra Pradesh.

Led by visionary C Channa Reddy, Indus Gene, a state-of-the-art biotech company, incorporated in the United States with principal operations located in Chilamathur mandal. India. The company is also registered under Indian Companies Act, 1956. The company's vision has a broad and ambitious scope- not only to build the world's premier contract manufacturing facility but also to establish an entirely green facility with an international reputation for excellence in discovery and manufacturing of monoclonal antibodies against cancer and rheumatoid arthritis. Through innovation and total commitment, Indus Gene strives to create value for their employees, customers, in this case pharmaceutical industries, and its investing partners. More importantly, Indus Gene seeks to create opportunities for unprecedented wealth for its partners, clients, and employees by taking advantage of the most powerful sector in the twenty-first century, biotechnology.

"We propose to invest a total of $90 million (Rs.675 crore) by the time we complete all three phases of construction, of which we have already invested Rs110 crore in the first phase, which is currently in operation," a company official quoted as saying by the office of Industries Minister Mekapati Gowtham Reddy. The Minister is scheduled to visit the plant on Monday and review the progress of the project.

Setting an example for others, after 45 years of academic service as leading scientist at the Pennsylvania State University in the US, Channa Reddy has come back to venture into starting a biotech company in his native district, Anantapur. He brings his expertise and world-renowned scientific reputation. Not only does he bring outstanding research credentials to Indus Gene, but also his extensive network connections with major pharmaceutical industries and academic institutions in the US and around the world, a State Government official said. The promoter's goal is two-fold - to provide jobs to 1000s of unemployed young scientists with biochemistry and biotechnology backgrounds in Andhra Pradesh; and the to contribute in a small, but significant way to the local economy through creating 1000s of unskilled jobs for the locals as well as to provide income opportunities to the local communities through trickle-down economics, such as selling milk, vegetables, and other daily consumables to thousands of employees of the Indus Gene.