Telangana at Davos: Aragen Life Sciences to invest Rs 2,000 cr
Will strengthen Hyderabad’s position in drug discovery in Asia; Firm will expand its operations in Hyderabad
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Hyderabad: Cementing Hyderabad’s position as the epicentre of drug discovery and development services in Asia, Aragen Life Sciences has announced plans for expansion with a new investment of Rs 2,000 crore, and creating 1,500 new jobs.
The investment would help the firm further its existing facility in Mallapur, Telangana. The expansion is primarily targeted towards drug discovery, development and manufacturing activities for global life sciences industry. The announcement was made after Chief Minister A Revanth Reddy meeting with Manni Kantipudi, whole time Director & CEO, Aragen Life Sciences.
The expansion of Aragen Life Sciences has further solidified Hyderabad's status as a hub for CROs (Contract Research Organisations) in India. Hyderabad serves more than 1,000 innovators globally in their efforts to discover and develop new drugs and devices.
Aragen boasts of more 20 years of experience providing a range of contract research, development and manufacturing services across the drug development continuum, with a focus on early-stage discovery and development of new molecular entities (NMEs). Whether large pharma or biotech, an agrochemical or animal health company, Aragen provides global resources and proven capabilities at every stage of the biopharma lifecycle, in small and large molecules.
Speaking after the meeting, Revanth Reddy said, “I delighted that Aragen Life Sciences, a global leader in pharma, has chosen massive investment plans in Hyderabad. This shows the new government’s resolve to building a next-level vibrant ecosystem, extraordinary infrastructure and showcasing our rich talent pool that can drive innovation to the works.”
Manni Kantipudi, said: “We are excited about our five-year expansion plans and have decided to invest Rs 2,000 crore in Hyderabad, Telangana. Chief Minister Revanth Reddy garu’s leadership inspires confidence Hyderabad will consolidate its undisputed national status as headquarters for CROs and CDMOs over the years.”
Hyderabad offers modern infrastructure, access to the best scientific talent in the country, a strong network of suppliers, and an ecosystem that allows for innovation in digital technologies, he said.
“We continue to see this industry grow and flourish in Telangana. We want to thank the Govt of Telangana for their strong support and approval of our expansion plans and look forward to completing these expansions in the coming years,” he added.
