Ferring Pharmaceuticals, a pharma major from Europe, laid the foundation stone for their state- of-the art R&D laboratory and manufacturing facility here today.
The event was attended by Telangana Industries Minister KT Rama Rao and several other dignitaries, a state government release said.
Ferring Pharmaceuticals is a Switzerland-based Euro 2 billion research-driven specialty biopharmaceutical group and a leader in reproductive medicine and womens health. It has a strong presence in specialty areas within gastroenterology and urology, it 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".
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)