Minister for Industries, IT, MA & UD KT Rama Rao laid a foundation stone for the state-of-the-art R&D laboratory and manufacturing facility of Ferring Pharmaceuticals.
Welcoming Ferring to Genome Valley, Minister said: “We are delighted to have Ferring Pharma join the impressive list of companies who are present in this cluster”. He also mentioned that the street could be named European Avenue, given the presence of almost all top European companies like Novartis, GSK, Chemo, Lonza and now Ferring, among others. It has joined an elite list of European pharma majors to invest in a facility in Genome Valley in Hyderabad.
Ferring Pharmaceuticals is a Switzerland based Euro 2 billion research-driven speciality biopharmaceutical group and is a leader in reproductive medicine and women’s health with a strong presence in speciality areas within gastroenterology and urology. The group has headquarters in St. Prex, Switzerland with a portfolio of manufacturing facilities across Europe, North America, South America, China and India marketing its products in over 110 countries.
Ferring India CEO Suresh Pattathil mentioned that Ferring’s association with Hyderabad began after the group’s chairman Dr Fredrick Paulsen expressed a strong interest in investing in the city on the back of progressive governance and forward-looking industry policies, and the presence of the right infrastructure, skilled manpower pool for R&D and manufacturing which are conducive to new business investments.
Ferring plans to complete the project in three phases with a total proposed investment of US$250 million, with an estimated INR 235 Crores into the first phase itself.