Last Updated on October 9, 2024 by The Health Master
Hyderabad: Hyderabad is home to the most US Food and Drug Administration (USFDA)-approved companies worldwide. Hyderabad has become a major global hub for the life sciences.
Hyderabad has more USFDA-approved units than New Jersey, which is in second place with 189 units, according to Telangana Industries, Commerce, and Information Technology Minister K.T. Rama Rao.
He declared that the state government would work to establish a USFDA office in Hyderabad.
He also said the Telangana government has set the ambitious goal of doubling the size of the life sciences sector to $100 billion by 2028. Additionally, it is considering expanding the workforce from the current 4 lakh employees to 8 lakh.
KTR, as the minister is popularly known, was interacting with a select group of journalists on the eve of BioAsia 2023, the marquee life sciences event organised by the Telangana government.
The 20th edition of BioAsia, beginning on February 24, is expected to give further impetus to the state’s efforts to strengthen the life sciences sector.
The minister emphasized that Hyderabad currently produces 9 billion vaccine doses annually, and that number is expected to increase to 14 billion the following year.
According to him, Hyderabad currently contributes 35% to the world’s vaccine production, and by the following year, that percentage is anticipated to reach 50%.
KTR stated that Hyderabad also accounts for 40 per cent of the country’s pharmaceutical production.
Listing out rapid strides made by the state in the life sciences sector, he said Medical Devices Park at Sultanpur near Hyderabad has run out of space. He claimed that this is the world’s largest park for medical equipment.
The largest pharmaceutical cluster in the world, according to KTR, will be located in Hyderabad, India, on 14,000 acres of land. He hoped that some legal stumbling blocks in the ambitious project would be removed soon.
He stated that 30 lakh square feet of floor space has already been taken by companies in Genome Valley, the mega cluster for life sciences R&D, and another 20 lakh square feet is being developed. He hoped that within the next 2-3 years, companies would take up this space as well.
Genome Valley is home to more than 200 companies including marquee global names like Novartis, GlaxoSmithKline, Ferring Pharma, Chemo, DuPont, Ashland, United States Pharmacopeia, and Lonza.
The minister stated that trade and investment to an extent of $3 billion were announced at BioAsia during the last 19 years, BioAsia helped attract $3 billion investment.
More than 250 Letters of Intent, Bilateral Cooperation Agreements, and MoU were signed.
The event hosted leaders from over 100 countries, helping in showcasing the ecosystem and policies to the global leaders.
During the previous editions of BioAsia, over 20,000 partnering meetings were held, more than 30 knowledge papers and policy recommendations were submitted.
Countries like Switzerland, Norway, Thailand, Korea, Argentina, Spain, UK, Germany, South Africa etc. have participated with large ministerial and industrial delegations in BioAsia.
KTR said that the event has benefitted immensely from its participants of scientific and business excellence including Nobel Laureates, Lasker Awardees, breakthrough Prize winners and global industry leaders.
One of the highlights of BioAsia has been the conferment of the prestigious Genome Valley Excellence Award. The award was instituted in 2004 to celebrate individuals, who have made remarkable contributions to the sector. This year the award will be presented to Prof Robert Langer for his immense contribution to research on mRNA technology.
The theme for this year’s edition is ‘Advancing for ONE – Shaping the next generation of humanised healthcare’.
Participation from about 50 countries is expected in BioAsia 2023. The international partner region will be Flanders, and the UK will be the partner nation.
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