Aragen Life Sciences, the Hyderabad based contract research and manufacturing firm, has announced plans to invest Rs. 2,000-crore over the next five years to expand operations at its existing site in Mallapur, Hyderabad (Telangana) India
The announcement was made post a meeting between Telangana Chief Minister, Mr. Revanth Reddy and Mr. Manni Kantipudi, CEO, Aragen Life Sciences, on the sidelines of the World Economic Forum, at Davos, Switzerland. The expansion is primarily targeted towards drug discovery, development and manufacturing activities for global life sciences industry.
The company said the investment cements Hyderabad’s status as a hub for drug discovery and development. Hyderabad is serving more than 1,000 innovators globally in their efforts to discover and develop new drugs and devices, it added.
“Hyderabad has emerged as the undisputed national headquarters for CROs and CDMOs like Aragen over the years. Hyderabad offers modern infrastructure, access to the best scientific talent in the country, a strong network of suppliers, and an ecosystem that allows for innovation in digital technologies. We continue to see this industry grow and flourish in Telangana,” Mr. Kantipudi noted.
“This investment reiterates Aragen’s focus on driving scientific innovation and research excellence in the discovery, development and manufacture of new molecular entities (NMEs) and creating world-class infrastructure for the global life sciences industry. It will also contribute significantly to talent development by creating approximately 1500 new employment opportunities in Telangana,” a company press note said.
Over the years, Aragen has evolved from a Discovery Chemistry-focused contract research service provider to a global scale integrated contract research, development and manufacturing organisation (CRDMO) for small molecules and biologics.
