Hyderabad: Ferring Pharmaceuticals, a pharma major from Europe, laid the foundation stone for their state-of-the-art R&D laboratory and manufacturing facility here.
The event was attended by Telangana Industries Minister KT Rama Rao and several other dignitaries, a state government release said.
Ferring established its Indian subsidiary in 1997 and has thus far established a manufacturing facility, an R&D centre and commercial operations in Maharashtra, it said.
“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.
Ferring plans to complete the project in three phases with a total proposed investment of USD 250 million, with an estimated INR 235 crore into the first phase itself,” the release said.
Welcoming Ferring to Genome Valley, a life sciences cluster here, Rao said the government is “delighted to have Ferring Pharma join the impressive list of companies who are present in this cluster”.