Hyderabad:Team Telangana at the World Economic Forum 2023, Davos continued its spree of attracting international investments and projects, with Wednesday seeing Eurofins Scientific (EUFI.PA), a global leader in food, environment, pharmaceutical and cosmetic product testing as well as in bioanalytical testing, announcing acquisition of assets to establish a fully-equipped, state-of-the-art laboratory campus in Genome Valley, Hyderabad. The investment is worth Rs.1,000 crore.
The acquisition includes a facility capable of supporting 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. The state-of-the-art laboratories occupy over 90,000 square feet.
The announcement was made after IT and Industries Minister KT Rama Rao’s meeting with the Eurofins management at the WEF annual meeting in Davos.
“I am delighted to announce the entry of Eurofins in Hyderabad and Genome Valley. I am extremely thrilled to note that the company has ambitious growth plans from this facility. 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,” Rama Rao.
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“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 so we can better serve this important centre for pharmaceutical development and innovation,” Eurofins CEO Gilles Martin said.
With this investment through its subsidiary Eurofins Advinus, the Eurofins network now has a significant campus in Hyderabad that complements its existing operations in India with additional capacity in discovery chemistry, analytical chemistry and bioanalytical services. 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.
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, with world-class infrastructure facilities in the form of Industrial / Knowledge Parks, Special Economic Zones (SEZs), multi-tenanted dry and wet laboratories and incubation facilities. This investment by Eurofins Advinus further reinforces the position of Hyderabad as a world class location for drug discovery.
Jayesh Ranjan, Principal Secretary (Industries and Commerce) and Shakthi M Nagappan, Director (Lifesciences) were also present.
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