Nation Current Affairs 29 Jul 2020 KT Rama Rao: After C ...

KT Rama Rao: After COVID-19, Hyderabad set to see pharma, life sciences sector boom

Published Jul 29, 2020, 11:46 am IST
Updated Jul 29, 2020, 12:48 pm IST
Telangana minister for IT and Industries KT Rama Rao (AP)
 Telangana minister for IT and Industries KT Rama Rao (AP)

Hyderabad: IT & Industries Minister KT Rama Rao on Tuesday said that the post-COVID-19 world will provide great opportunities for the pharma and life sciences sector in Telangana.

He was participating in an online session hosted by the World Economic Forum on the topic ‘Harnessing the Potential of Telangana’s pharmaceutical sector in the Global Health Ecosystem’. During the session, Minister KTR highlighted the life sciences ecosystem of Hyderabad.

He said that the Genome Valley, Medical Devices Park, and Hyderabad Pharma City have transformed the city into a global pharma destination for investors.

He said that the government plans to attract more investments in the pharma and life sciences sector in Telangana.

Maintaining that the Hyderabad pharma industry contributes up to 30-40% of domestic pharma production, he mentioned that the Hyderabad-based company Bharat Biotech has developed the first indigenous vaccine for COVID-19 which is currently undergoing clinical trials.

Pointing out that major pharma companies like Novartis have also made Hyderabad one of their bases, the minister assured that the government will work with the industry towards utilising every opportunity to not only produce vaccines but also to explore opportunities in digital drug discovery.

Location: India, Telangana, Hyderabad


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