Telangana aims to double life sciences eco-system to $100 billion
KT Rama Rao, IT and Industries Minister was speaking during inaugural session of 15th BioAsia Summit
The Telangana government aims to double the life sciences eco-system, currently valued at $ 50 billion with over 800 companies, to $100 billion in the next 10 years, IT and Industries Minister KT Rama Rao said.
Speaking at the inaugural session of 15th BioAsia Summit, Rao, popularly known as KTR, said the state has further strengthened its leadership position in life sciences innovation and manufacturing hubs by contributing more than 35 per cent to the national pharmaceutical production of the country.
He said Telangana has become a vaccine hub of the country and the world by producing about 33 per cent of global vaccines dosages and significantly contributing to elimination of global pain and disease.
“The life sciences eco-system in Telangana is valued at $50 billion with over 800 companies present in the state. Our aim is to double this figure to $100 billion in the next 10 years,” he said.
The Genome Valley Cluster here is among the largest life sciences clusters in Asia and the government will continue to support the cluster to strengthen its dominant position, he said.
From humble beginnings in the year 1999, the cluster has grown tremendously to become home to more than 200 companies with approximately 10,000 scientific and technical workforces today, with global majors like Novartis, GSK, Sanofi, Ferring Pharma, Chemo, DuPont, Ashland and US Pharmacopeia among others, the minister added.
“I take this opportunity to announce that the government will expand the Genome Valley cluster and will immediately initiate formulation of an integrated masterplan for the cluster, which will mark the beginning of Genome Valley 2.0,” he said.