Dr. Reddy’s Laboratories, Natco Pharma, VBL & Rockwell Industries gear up for major investments in the state
Under the direction of CM Yogi, the govt providing array of facilities to attract investors
Medical and drug parks being developed across all nodes in the state, including Lalitpur Drug Park and Noida Drug Park
By Our Correspondent
Lucknow: Enticed by the pro-pharma policies of the Yogi government aimed at transforming Uttar Pradesh into a pharm hub, four prominent pharmaceutical companies from Telangana are set to invest crores of rupees in the state. The companies are also working towards the development of drug and medical parks across the state in order to make Uttar Pradesh a pharma hub.
Notably, on January 18, the Yogi government organized a Pharma Conclave in Hyderabad to raise awareness about fostering a culture of drug and pharmaceutical manufacturing in Uttar Pradesh. The event highlighted the government’s pharmaceutical policy and the accompanying facilities available to investors.
This concerted effort marks a significant turnaround for Uttar Pradesh, which had previously suffered from neglect under previous administrations. Now, with the active participation of major pharmaceutical companies, the state is swiftly emerging as a key player and the growth engine of the country in the nation’s pharma sector. .
Pharma Conclave becomes a medium to attract investment
During the Pharma Conclave held on January 18 in Hyderabad, the Yogi government outlined its vision to develop Uttar Pradesh as a prominent cluster for drug and pharmaceutical manufacturing, aiming to establish it as a major hub in the industry. The event served as a platform to attract investment, facilitating one-on-one meetings between government officials and interested investors.
Following the conclave, Dr. Reddy’s Laboratories expressed interest in establishing a research laboratory near the Medical Device Park in Yamuna Expressway Industrial Development Authority (YEIDA) area, or at another strategic location in Noida/Greater Noida. Furthermore, they have indicated interest in exploring investment opportunities within the Bulk Drug Park in Lalitpur. The development of the park necessitates availability of more than 150 acres of land.
Simultaneously, plans are underway to establish a pharmaceutical manufacturing facility in Greater Noida. Additionally, there is interest in establishing a biotech laboratory and a manufacturing unit in the Medical Device Park, either in Noida or Greater Noida.
Vince Bioproducts Limited (VBL) and Rollwell industries show interest in investment
VBL has expressed its intention to establish a research laboratory for the extraction of snake venom antiserum at the Medical Device Park in Noida or a nearby area. This project, estimated to require an investment of approximately Rs 10-15 crore, would occupy a land area of about 5-10 acres.
In parallel, Rockwell Industries has shown interest in establishing a manufacturing facility within the Medical Device Park in Noida, focusing primarily on vaccine carriers. Additionally, the company aims to integrate specific supporting units into the facility. The proposed plant would require a land area of around 35-40 acres, with a total investment estimated at Rs 400-500 crore.
