HYDERABAD: Four US-based companies have promised major investments in Hyderabad during the talks with IT and Industries Minister KT Rama Rao who is leading a delegation to the US to attract capital. Advent International, one of the largest and longest-serving private equity firms, has aggressive investment plans for Life Sciences and pharma companies in Hyderabad.
This was revealed to Rama Rao during his talks with Advent International’s Managing Partner John Maldonado to discuss the company’s strategy and plans for the healthcare and pharmaceutical sector in India.
Rama Rao welcomed Advent’s investment of Rs 1,750 crore in Hyderabad through the acquisition of controlling stakes in Hyderabad-based RA Chem Pharma Ltd and Avra Laboratories. Avra Labs, headquartered in Hyderabad, is engaged in contract manufacturing and research services and speciality active pharmaceutical ingredients.
Together, Advent is investing US$ 23 million (Rs 1,750 crore) in acquiring RA Chem Pharma Ltd and Avra labs. Between the two companies, there are six manufacturing units and three R&D units employing over 2,500 people. Since it was founded in 1984, the company has invested $ 61 billion in 390 private equity investments across 42 countries in sectors such as healthcare, business and financial services, technology, retail and industrial.
Slayback Pharma, another company headquartered in New Jersey, announced its expansion in operations in Hyderabad over the next three years by opening a cGMP lab and a manufacturing facility. The company has already invested around US$ 30 million till now in the last five years and is planning to invest another US$ 20 million in the next three years.
The company commenced its operations in Hyderabad in 2017 with a headcount of around 35, started an R&D lab in Genome Valley in 2018 and has grown organically since then. Today, the company has three facilities in Hyderabad with a total headcount of 106.
“I am delighted to note the phenomenal growth of Slayback Pharma in Hyderabad and its expansion plans. I am confident that the vibrant ecosystem of Hyderabad will continue to support the company’s growth aspirations and I am happy to see many such Life Sciences companies scaling new heights,” Rama Rao said.
This apart, Curia Global (previously known as AMRI Global) announced its expansion in operati-ons in Hyderabad for the next 12 months by doubling the current headcount in the facility. The company has already invested a total of US $27 million in India. It is engaged in manufacturing and contract research activities in the field of medicinal chemistry for other Curia group entities as well as third party customers.
United States Pharmacopeia (USP) is expanding its footprint in Hyderabad by setting up a new continuous manufacturing (flow chemistry) facility with an additional capital investment of US $ 200,000. The facility would enable pharmaceutical manufacturers to gain efficiencies and flexibility in manufacturing processes.
The USP team informed the Minister that USP India has invested more than US$5 million in the last 24 months towards the development of infrastructure and capital equipment for scientific laboratories and have added more than 70 employees.
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