UP lures healthcare giants with Hyd pharma conclave

Hyderabad: The Uttar Pradesh government announced today that it will organize a ‘Pharma Conclave’ in Hyderabad on Thursday, January 18, 2024, in collaboration with the Bulk Drug Manufacturers Association of India, Indian Drug Manufacturers Association (IDMA) – Telangana and Andhra Pradesh Chapter, and other associations. The primary objective of the conclave is to attract investments in the healthcare and pharmaceuticals sector in Uttar Pradesh.

UP has partnered with industry experts as Brand Ambassadors of the Pharma Sector in Southern India to facilitate investments. The conference aims to enlighten industry stakeholders about the incentives provided through UP’s Industrial Policy and the Pharmaceutical Policy 2023. Distinguished leaders from the pharmaceutical industry and institutions in Hyderabad will participate in the event. The focus of the conclave is to shed light on the opportunities in pharmaceutical research and manufacturing, particularly in the upcoming Pharma Park in Lalitpur district and other designated areas. UP aims to leverage the event to showcase the state’s policy framework, offering single window clearance for regulatory approvals and lucrative incentives like interest and capital subsidies, and stamp duty exemption, creating an ideal environment for pharma parks and individual units.

Mayur Maheshwari, CEO-UPSIDA, highlighted, “The government will seek investments from healthcare and pharmaceutical companies from Hyderabad at the conclave. The conference will demonstrate several measures being taken by UP to attract healthcare and pharmaceutical companies to the state.”

With a vision to foster pharmaceutical, generic medicines, and medical devices industries, UP is establishing an exclusive bulk drug park in Lalitpur district with a substantial investment of Rs 8,000 crores.