Hyderabad: Switzerland-based Ferring Pharma has offered to invest up to $250 million in setting up a facility in the upcoming Pharma City on the outskirts of Hyderabad.
Ferring Pharma chairman Frederik Paulsen and India head Ashok Alate met Chief Minister K. Chandrasekhar Rao on Monday and submitted a proposal to this effect.
The $1.5 billion turnover Ferring Pharma has nine plants worldwide in countries like Argentina, China, Czech Republic, Denmark, Germany, Israel, Mexico, Scotland and Switzerland besides nine more R&D units in other countries. They also have two plants in Maharashtra.
The company officials informed the CM said they would like to concentrate in Telangana. During the discussions, they assured “zero discharge’ with complete treatment facilities within the premises....