Gland Pharma to invest Rs 400 crore for expansion of Telangana plant

21 Feb 2023 , 09:25 AM

Gland Pharma announced on Monday that it would invest Rs 400 crore to expand its existing facility in Genome Valley in Telangana to manufacture biologicals, biosimilars, antibodies, and recombinant insulin.

According to a state government press release, the expanded facility will have the potential to employ more than 500 qualified, skilled, and semi-skilled workers, mostly from the surrounding area.

The company established its biopharmaceutical facility in Genome Valley in February last year with an investment of Rs300 crore to manufacture vaccines, biologicals, biosimilars, antibodies, and other products.

According to the company, the expanded site will be built in accordance with the GMP guidelines applicable to the respective product lines and will meet the national and international regulations to be followed in the manufacturing of biological products as applicable.

The announcement came following a meeting between Telangana Industries Minister KT Rama Rao and Gland Pharma’s Managing Director and Chief Executive Officer Srinivas Sadu.

At around 9.20 AM, Gland Pharma was trading 1.04% higher at Rs1,319 apiece, against the previous close of Rs1305.40 on NSE.

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