Ferring to set up R&D centre with $250 million investment1 min read . Updated: 09 Feb 2016, 01:53 PM IST
Ferring is planning to make Hyderabad its commercial hub and manufacturing base, said Telangana industries secretary Arvind Kumar
Hyderabad: Ferring Holding SA, Switzerland-based research-driven, specialty bio-pharmaceutical company, is planning to set up its research and development (R&D) centre in Hyderabad at an estimated investment of $250 million, said a top official of Telangana government on Monday.
Frederik Paulsen, chairman and Ashok Alate, India head of Ferring, met Telangana chief minister K. Chandrashekar Rao on Monday to brief him about the Swiss company’s proposed investments.
The Telangana government assured all approvals as per the Telangana State Industrial Project Approval and Self Certification System (TSIPASS) to Ferring’s proposal, including allotting 10 acres land at Genome Valley at Shamirpet, the hub of biotech and life-sciences companies some 40 kilometres from Hyderabad.
In addition to an R&D centre, Ferring is planning to make Hyderabad its commercial hub and manufacturing base, said Telangana industries secretary Arvind Kumar.
Ferring, founded by Frederik Paulsen in 1950 in two rented rooms in Malmö, Sweden, is a world leader in peptides or small proteins, with revenues of €1.5 billion in 2015.
The company makes products for reproductive health, gastroenterology, urology, orthopaedics and endocrinology.
Ferring has two plants in India, both in Maharashtra.
The Telangana government also signed memorandums of understanding with various pharmaceutical and biotech companies for investments worth ₹ 1,000 crore on the first day of BioAsia 2016 on Monday, an annual industry event.