In a significant development, Aragen Life Sciences has unveiled plans to inject a whopping Rs 2,000 crore into its existing facility in Hyderabad, marking a substantial expansion that is poised to generate 1,500 new employment opportunities. This strategic move, targeting drug discovery, development, and manufacturing activities, reinforces Hyderabad’s position as a key player in the global life sciences industry.
The announcement was made following a meeting between Chief Minister Revanth Reddy and Manni Kantipudi, the Whole Time Director and CEO of Aragen Life Sciences, during the ongoing World Economic Forum summit in Davos.
The expansion project by Aragen Life Sciences is set to bolster Hyderabad’s reputation as a hub for Contract Research Organizations (CROs) in India. The city already plays a crucial role in supporting over 1,000 innovators globally in their endeavors to explore and develop novel drugs and devices.
Expressing his delight, Chief Minister Revanth Reddy stated, “I’m delighted that Aragen Life Sciences, a global leader in pharma, has chosen massive investment plans in Hyderabad. This shows the new government’s resolve to building a next-level vibrant ecosystem, extraordinary infrastructure, and showcasing our rich talent pool that can drive innovation to the works.”
Manni Kantipudi, the CEO of Aragen Life Sciences, shared his enthusiasm about the expansion, stating, “We are excited about our five-year expansion plans and have decided to invest Rs 2,000 crore in Hyderabad, Telangana. Chief Minister Revanth Reddy garu’s leadership inspires confidence that Hyderabad will consolidate its undisputed national status as headquarters for CROs and CDMOs over the years.”
