Hyderabad: American pharmaceutical company Eli Lilly is set to invest USD 1 billion in Telangana to expand its manufacturing and global medicine supply capacity, the government said on Monday, October 6.
The announcement was made after the company’s global delegation met chief minister A Revanth Reddy and IT minister D Sridhar Babu at the Integrated Command Control Centre on Monday, October 6.
“Telangana secured a massive investment of USD 1 bn by US Pharma major Eli Lilly, which will expand its manufacturing and global medicine supply capacity in Hyderabad,” an official release said.
A new manufacturing plant and quality centre would be set up, creating job opportunities for Telangana’s youth.
The company will soon begin recruiting engineers, chemists, analytical scientists, quality control and assurance professionals, and management positions, the release said.
In August, the pharma company inaugurated the global capability centre (GCC) in Gachibowli, Hyderabad. It aims to resolve some of the major challenges in the health sector, focusing on artificial intelligence, cloud computing, automation and software product engineering.
The GCC spans 2,20,000 square feet across four floors at the Phoenix Equinox building. The facility has already hired 100 professionals and plans to expand the work force to 1,500 over the next few years.
Speaking on the sidelines about transforming Telangana into a knowledge hub, the chief minister informed that a new advanced technology centre (ATC) is currently being set up at Hyderabad’s Genome Valley to ensure technical support for the companies. “Telangana means business. Hyderabad is a global city. Our government will support and welcome all industries looking to invest here,” he said.
