Ferring Pharmaceuticals joined an elite list of European pharma majors to invest in a facility in Genome Valley, Hyderabad, as they laid the foundation for their state-of-the-art R&D laboratory and manufacturing facility today. Their ground-breaking ceremony was graced by the Honorable Minister for Industries, IT, MA & UD Shri K Taraka Rama Rao and several dignitaries including senior TSIIC officials.
Ferring Pharmaceuticals is a Switzerland based Euro 2 billion research-driven speciality biopharmaceutical group and is a leader in reproductive medicine and women’s health with a strong presence in speciality areas within gastroenterology and urology.
The group has headquarters in St. Prex, Switzerland with a portfolio of manufacturing facilities across Europe, North America, South America, China and India marketing its products in over 110 countries.
Ferring established its Indian subsidiary in 1997 and has thus far established a manufacturing facility, an R&D centre and commercial operations in Maharashtra. Ferring India CEO Mr Suresh Pattathil mentioned that Ferring’s association with Hyderabad began after the group’s chairman Dr. Fredrick Paulsen expressed a strong interest in investing in the city on back of progressive governance and forward-looking industry policies, and presence of the right infrastructure, skilled manpower pool for R&D and manufacturing which are conducive to new business investments.
The new facility will also add to group’s global R&D capabilities and will cater to building a pool of novel research for emerging healthcare challenges around the world. Ferring plans to complete the project in three phases with a total proposed investment of US$250 million, with an estimated INR 235 Crores into the first phase itself.
Welcoming Ferring to Genome Valley, KTR said “we are delighted to have Ferring Pharma join the impressive list of companies who are present in this cluster”. He also mentioned that the street could be named European Avenue, given the presence of almost all top European companies like Novartis, GSK, Chemo, Lonza and now Ferring, among others.
Genome Valley has emerged as one of the leading life sciences Clusters in Asia and Genome Valley 2.0 will attract a range of global companies into the cluster helping the State consolidate its position as the undisputed leader in the Life Sciences sector.
Valley is expected to keep growing as it has started delivering cluster synergies which are critical in the current stage of life science industries. USP has initiated a unique academic program to train life science professionals which would be helpful in ensuring availability of trained manpower for the fast-growing cluster” he stated.
