K M Dayashankar
HYDERABAD, AUGUST 07, 2024: Vivint Pharma, an injectables pharmaceutical company, has announced its plans to establish a state-of-the-art injectables manufacturing facility in Genome Valley, Hyderabad.
The company will be investing ₹400 crores in the new facility with a potential to employ 1000 people, further solidifying Telangana’s position as a global hub for life sciences.
The announcement was made during a high-level meeting with Chief Minister of Telangana A Revanth Reddy and Minister for Industries and Commerce D Sridhar Babu, in the United States of America. This significant investment underscores Vivint Pharma’s commitment to expanding its footprint in India, particularly in Telangana, which has emerged as a preferred destination for pharmaceutical and biotechnology companies.
The company has an R&D center in Genome Valley and has invested about Rs. 70 crores in the facility. To consolidate its strengths and foray into international markets, the company has decided to establish its first manufacturing plant and has acquired 5.5 acres in Genome Valley, known for its world-class infrastructure and conducive ecosystem for research, innovation, and manufacturing.
Mr Revanth Reddy, Chief Minister of Telangana said, “I am delighted to note about Vivint Pharma’s investment in Genome Valley. Telangana has always been at the forefront of fostering innovation in the life sciences sector, and this investment will add further impetus.”
Shri D. Sridhar Babu, Minister for Industries and Commerce, Telangana, also expressed his enthusiasm, stating, “This investment is a testament to the business-friendly environment nurtured by our Government. Genome Valley continues to be a magnet for pharmaceutical companies, and Vivint Pharma’s decision to set up a new manufacturing facility here reaffirms our leadership in the life sciences domain.”
Vivint Pharma’s injectables facility will focus on the development and production of high-quality injectable drugs in the oncology and critical care space for both domestic and international markets. The company’s decision to invest in Genome Valley aligns with its strategy to leverage India’s skilled workforce and the region’s advanced manufacturing capabilities to meet the growing global demand for pharmaceutical products.
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