Ferring Pharmaceuticals, the European pharma major, has commenced work on its research and development laboratory and manufacturing facility at Genome Valley in Hyderabad.
The company has plans to complete the project in three phases. It has a total proposed investment of $250 million.
Ferring has joined top European companies like Novartis, GSK, Chemo and Lonza in setting up the facilities in Genome Valley, which has emerged as one of the leading life sciences clusters in Asia, said Telangana’s Minister for Industries K T Rama Rao who laid the foundation stone.
Ferring Pharmaceuticals, a Switzerland-based Euro 2 billion research-driven specialty biopharmaceutical group, joined the list of European pharma majors to invest in a facility in Genome Valley.
Besides adding to group’s global R&D capabilities, the new facility will cater to building a pool of novel research for emerging healthcare challenges around the world, said a statement.
Having emerged as the preferred destination for major R&D focused life sciences companies in India, Genome Valley houses over 150 companies, making it the countrys largest cluster of multi-tenanted lab space infrastructure in a single location.
Located in Shameerpet – Hyderabad, Genome Valley is a perfect blend of knowledge parks, special economic zones, multi-tenanted wet laboratories, incubation facilities, office spaces along with outstanding support facilities.
Ferring, which is also a leader in reproductive medicine and women’s health with strong presence in specialty areas within gastroenterology and urology, has manufacturing facilities across Europe, North America, South America, China and India marketing its products in over 110 countries.