Laurus Labs Sets Up Rs 250-Cr R&D Centre
The 2 lakh sqft facility at IKP Knowledge Park will support the pharma major’s CDMO biz and provide jobs to over 800 people
D Sridhar Babu, Telangana Minister for IT & Industries, and Dr Satyanarayana Chava, Founder CEO, Laurus Labs, inaugurating the new facility in the presence of other government officials and senior management team on Monday
Hyderabad: Laurus Labs Ltd, a research and development (R&D)-driven pharmaceutical and biotech company, on Monday announced the inauguration of its new R&D centre at IKP Knowledge Park in Genome Valley on the Hyderabad outskirts. The facility, spread across two lakh sqft, will support the company’s Contract Development and Manufacturing Organisation (CDMO) business. Set up with a total investment of Rs250 crore, the fifth and new R&D facility is likely to provide jobs to over 800 people.
The facility was inaugurated by Duddilla Sridhar Babu, Minister of Industries and Commerce, Telangana, along with Dr Satyanarayana Chava, Founder and CEO, Laurus Labs, in the presence of other senior management team and government officials.
On the occasion, Dr Satyanarayana Chava, Founder & CEO, Laurus Labs, said: “This will be our fifth R&D centre. The cutting edge facility is designed to foster innovation and advance the company’s mission developing ‘Chemistry for Better Living’. We believe that this facility will enable us to develop ground breaking solutions that will address unmet medical needs.”
Laurus Labs has a total workforce of over 6,500 people, including around 1,250 scientists working across 11 facilities approved by global agencies such as US FDA, WHO-Geneva, Japan-PDMA, UK-MHRA, EMA, TGA. During the Financial Year 2023, Laurus Labs had reported earning revenue of Rs6,041 crore.
