Amneal Pharmaceuticals to invest Rs 280 crores to set up formulation facility in the state
Usha Sharma – Ahmedabad
The three-day long Vibrant Gujarat Summit held at in Mahatma Mandir, Gandhinagar concluded successfully. The pharmaceutical sector too received an overwhelming response, with 201 memorandum of understanding (MoUs) worth of Rs 5000 crores signed during the event. Most of these MoUs were in the formulations, active pharmaceutical ingredients (APIs) and medical device segments.
Commenting on the success of the pharma segment at Vibrant Gujarat 2015, Dr Hemant G Koshia, Commissioner, Food and Drug Control Administration – Gujarat said, “In 2011, the Government of Gujarat had initiated Business to Government (B2G) meetings and it has really worked well for the last two summits. This year, with the help of B2G, we have signed 201 MoUs. Out of these, 20-25 MoUs are fresh investments while the rest of them are previously signed MoUs.”
While sharing the details of MoUs, Koshia informed, “An American pharma company, Amneal Pharmaceuticals has agreed to invest Rs 280 crores for setting up a state-of-the-art formulation facility in Gujarat. Israel-based Teva in partnership with P&G has finalised the expansion of their business operations in Gujarat.”
During the last Vibrant Gujarat Summit, the state authority had signed 133 MoUs worth Rs 3160 crores for the pharma sector . “This year’s summit has worked for the pharma sector and new companies from the US and Europe have shown keen interest in investing in the state,” shared Koshia.
Most senior officials from the Gujarat State Government were present throughout the event to share the required information with foreign delegations during B2G meeting.