Hyderabad, Feb 19 (KNN) Telangana IT & Industries Minister KT Rama Rao has said that the state government has decided to double the size of the biotech and life sciences industry from USD 50 billion to USD 100 billion which would create 40,0000 new jobs this decade.

“With more than 800 pharma, biotech and medical technology companies, Telangana’s life sciences sector already has a combined enterprise value of USD 50 billion…We have a vision to grow this to USD 100 billion and create four lakh new jobs in this decade,” he said at the inauguration of the 17th edition of Bio Asia-2020 in Hyderabad on Monday.

He also said the state’s plan of setting up a B-Hub has secured a nod from the centre, while pharma city would be identified as a National Investment and Manufacturing Zone (NIMZ). The state government has also been planning to establish a world-class institution focused on curative therapies here in Hyderabad.

With multiple Memorandum of Understanding (MoUs) that were signed at the event, the state has received a substantial investment of Rs 170 crore from Syngene, along with Biological E’s vaccine facility, which was inaugurated on Monday morning, that is all set to provide 1,000 jobs with its Rs 300 crore investment.

Additionally, the event also witnessed the signing of a MoU between London School of Hygiene and Tropical Diseases and the Telangana government to set up its outpost in Hyderabad.

Speaking on life sciences, the IT Minister said, “Today Hyderabad has emerged as a major hub for life sciences in Asia and a destination of choice for global companies.

He further asserted that the city contributes to more than 35 percent to the national pharma production with more than 800 pharma, biotech and medical technology companies in the State, Telangana already has a combined enterprise value of USD 50 billion. Today we are known as the ‘Vaccine Capital’ of the world manufacturing more than 2 billion doses of vaccine every year and contributing to one-third of the global vaccine output.

''The Hyderabad based Bharat Biotech developed the world’s first typhoid conjugate vaccine for children, which was pre-qualified by the WHO last year,'' he added.

On the upcoming pharma city, he said the planning work is complete and environmental clearances are in place.

“GOI also has recognised the potential of pharm city by according the status of National Investment Manufacturing Zone. We are very close to land allotments to industries, he added.

KTR said the Department of Biotechnology has agreed to partner with Telangana to set up B-Hub, a first-of-its-kind scale up manufacturing facility in Genome Valley. The project is expected to ground in the next two months.

The event was attended by Switzerland ambassador Andreas Baum, guests from across the world including Dr Carl June and Dr peter Poir and chairman and managing director of Biocon Kiran Mazumdar Shaw.

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