Last Updated on March 9, 2023 by The Health Master
Bulk Drug capital of world
Several speakers at the Global Investors Summit 2023 in Visakhapatnam highlighted Andhra Pradesh‘s potential to emerge as the bulk drug capital of the world.
AP’s Advantages in the Pharma Sector
Laurus Labs founder and CEO Satyanarayana Chava described Andhra Pradesh as the bulk drug capital of India, owing to the presence of several large Active Pharmaceutical Ingredient (API) units in the state.
Well-established Ecosystem and Growth Opportunities
Hetero Group Managing Director Vamsi Krishna Bandi emphasized Andhra Pradesh‘s well-established ecosystem and stated that post-Covid pandemic, more countries are looking at India as a partner of choice in the pharmaceutical sector.
He added that Hetero Group will invest about ₹1,000 crore in AP over the next two years to expand their pharmaceutical and specialty business, generating employment for 3,000 people.
AP Offers the Best Opportunities to the Pharma Sector
Satish Reddy, Chairman of Dr Reddy’s Laboratories, said that Andhra Pradesh offers the best opportunities to the pharma sector, playing an essential role in the journey of the Indian pharma sector from today’s $45 billion market to $130 billion by 2030.
He also mentioned that innovation is the key to achieving real value in the sector, citing the success of med tech zone, and expressed hope that AP could lead the way.
Investments and Collaborations
Sergio Lee, Director and Group Head (India Operations) of Apache and Hilltop Group, stated that they have been investing in Andhra Pradesh since 2006 and have decided to continue to invest another $100 million, with the potential of generating 10,000 jobs in Tirupati.
Creating a Vision for the Future
Suchitra K Ella, Chairperson of CII Southern Region and Managing Director of Bharat Biotech International Limited, expressed the CII’s interest in working with the Andhra Pradesh government in creating a vision document for the districts for the next 25 years, with a focus on women’s empowerment.
She also stated that the CII is ready to collaborate in creating a curriculum for girl students emphasizing empowerment.
Other Speakers
Other speakers, including Gajanan Nabar of Nova Air, Vineet Mittal of Avaada Group, and Santhanam B of Saint Gobain Asia-Pacific and India, also spoke at the summit.
Conclusion
Andhra Pradesh’s status as a pharma hub of the country makes it well-positioned to become a global leader in the bulk drug sector.
With its well-established ecosystem and the commitment of various stakeholders to invest in the state, Andhra Pradesh is poised for significant growth and development in the coming years.
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