Vivint Pharma to invest Rs 400 crore in injectables facility
Hyderabad: The official delegation led by Chief Minister A Revanth Reddy, who is in the US in search of investments, on Wednesday signed an MoU with Vivint Pharma, a global pharma company, to invest Rs 400 crore to set up a state-of-the-art injectables manufacturing facility in Genome Valley. The new facility will generate employment for around 1,000 people. It may be mentioned here that this company has an R&D centre in Genome Valley. To consolidate its strength and enter international markets, it has now decided to set up its first manufacturing plant and has acquired 5.5 acres of land for its world-class infrastructure and conducive ecosystem for research, innovation and manufacturing. Appreciating the decision, the Chief Minister said, “I am happy to know that Vivint Pharma will invest in Genome Valley. Telangana has always been at the forefront of promoting innovation in the life sciences sector, and this investment will give it further impetus.” Industries Minister D Sridhar Babu said, “This investment is a testimony to the business-friendly environment fostered by our government. Genome Valley continues to be a hotspot for pharmaceutical companies, and Vivint Pharma’s decision to set up a new manufacturing facility here reaffirms our leadership in the life sciences sector.” The state government also signed a MoU with Corning Incorporated, a global leader in material science, to collaborate on skills and innovation initiatives aimed at strengthening the state’s workforce and driving technological innovation in key industries. The facility is set to begin production in mid-2025 and will enhance the availability of high-quality glass tubing for the pharmaceutical packaging industry. The MoU was formalised during a meeting between the Corning leadership team, led by Ronald Verkleeren, Senior Vice President, Emerging Innovation Group, and the state official team led by Revanth Reddy and D Sridhar Babu and senior officials.
