Hyderabad: State industries and IT minister K.T. Rama Rao on Monday vowed to transform Hyderabad as the global hub for life sciences and pharma industries.
“Hyderabad already has a place in global pharma map. But the Telangana government wants to take it to the top with the proposed pharma city,” the minister said addressing the delegates of the BioAsia 2017.
“The Silicon valley is considered the world’s top destination for IT sector. We will transform the Genome Valley along similar lines for pharma and life science sector,” he said.
The three-day event was inaugurated by Telangana and Andhra Pradesh Governor E.S.L. Narasimhan. The event witnessed many strategic partnerships and investment announcements, involving a total budget of over '3,000 crore.
Earlier in the day, the minister visited the Genome Valley in Shamirpet to inaugurate and to lay foundation stone for several firms.
It is considered as one of the biggest pharma clusters in Asia with over 200 pharma companies, employing 10,000 people. He laid foundation stone for new SEZ of city-based vaccine manufacturer Biological E. Limited, which involves a capital expenditure of of Rs 300 crore, SME Knowledge Park, MN Park (second phase).
