Hyderabad, June 30 (IANS) European pharma major Ferring Pharmaceuticals on Saturday launched the work on its research and development laboratory and manufacturing facility at Genome Valley here.
Ferring plans to complete the project in three phases with a total proposed investment of $250 million.
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.
The new facility will also add to group’s global R&D capabilities and will cater to building a pool of novel research for emerging healthcare challenges around the world, said a statement.
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.
The company established its Indian subsidiary in 1997 and has thus far established a manufacturing facility, an R&D centre and commercial operations in Maharashtra.
Ferring India CEO Suresh Pattathil mentioned that Ferring’s association with Hyderabad began after the group’s chairman Dr. Fredrick Paulsen expressed a strong interest in investing in the city on back of progressive governance and forward-looking industry policies, and presence of the right infrastructure, skilled manpower pool for R&D and manufacturing.
Telangana’s Minister for Industries, K.T. Rama Rao, who laid the foundation stone, said Ferring 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.