Hyderabad: Eurofins Scientific, a global leader in Pharma and Bioanalytical testing has announced the establishment of a laboratory campus in the Genome Valley here. The company will invest Rs 1,000 crores in the project.
The announcement was part of Telangana’s efforts to attract several international investments on day three of the World Economic Forum at Davos on Wednesday.
The facility, with an occupancy of over 90,000 square feet, will support large global and Indian pharmaceutical clients as well as small biotech companies in the areas of synthetic organic chemistry, analytical R&D, bioanalytical services (for both large and small molecules), in-vivo pharmacology, safety toxicology and formulation R&D.
Hyderabad is regarded as the epicentre of drug discovery and development services in Asia, while Genome Valley is India’s first organised cluster for Life Sciences R&D and Clean Manufacturing activities.
This investment by Eurofins Advinus further reinforces the position of Hyderabad as a world-class location for drug discovery, said the state government.
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The announcement was made after IT minister KT Rama Rao’s meeting with the Eurofins management where he stated, “I am delighted to announce the entry of Eurofins in Hyderabad and Genome Valley.”
“With this investment, Eurofins joins an illustrious list of global companies in Genome Valley. The Telangana government is committed to supporting Eurofins and their plans,” KTR added.
Eurofins CEO Gilles Martin said, “Eurofins is committed to long-term investments to grow our globally leading laboratory network. Given the importance of India in global pharmaceutical R&D value chains, we are very excited about our new Hyderabad campus.”
The investment will also allow Eurofins Advinus to extend its service offering to deliver formulation development as well as in-vitro and in-vivo biology capabilities from early 2023.
Principal secretary (Industries and Commerce) Jayesh Ranjan, and director (Lifesciences) Shakthi M Nagappan) were present at the meeting.