KTR opens Ferring pharma at Genome Valley, says Hyd competing with global countries

Hyderabad, April 25: Minister for IT and Industries K. Taraka Rama Rao (KTR) on Monday inaugurated a manufacturing facility of Switzerland-based Ferring Laboratories at Genome Valley in Hyderabad. The plant was set up with an initial investment of Rs 247 crore.
 
Speaking on the occasion, KTR said that Hyderabad has emerged as preferred destination for pharma companies. “Hyderabad is competing with other countries in global market in life sciences,” he mentioned and added that 110 will get jobs in Ferring Company. “The TRS government has been taking proactive measures for the development pharma sector in Hyderabad,” he announced and added that Genome Valley has world-class facilities needed for pharma and bio-tech companies.
 
Ferring Laboratories Vice-President Francois Hosotte, Principal Secretary (Industries Department) Jayesh Ranjan, TSIIC Vice-Chairman and MD EV Narsimha Reddy and others were present. Ferring Pharmaceuticals is actively involved in producing medicines related to gastroenterology and urology for the last 50 years.