Fer­ring to set up R&D cen­tre with $250m

The Pak Banker - - BUSINESS -

Fer­ring Hold­ing SA, Switzer­land-based re­search­driven, spe­cialty bio-phar­ma­ceu­ti­cal com­pany, is plan­ning to set up its re­search and de­vel­op­ment (R&D) cen­tre in Hyderabad at an es­ti­mated in­vest­ment of $250 mil­lion, said a top of­fi­cial of Te­lan­gana govern­ment on Mon­day.

Fred­erik Paulsen, chair­man and Ashok Alate, In­dia head of Fer­ring, met Te­lan­gana chief min­is­ter K. Chan­drashekar Rao on Mon­day to brief him about the Swiss com­pany's pro­posed in­vest­ments. The Te­lan­gana govern­ment as­sured all ap­provals as per the Te­lan­gana State In­dus­trial Pro­ject Ap­proval and Self Cer­ti­fi­ca­tion Sys­tem (TSIPASS) to Fer­ring's pro­posal, in­clud­ing al­lot­ting 10 acres land at Genome Val­ley at Shamir­pet, the hub of biotech and life-sci­ences com­pa­nies some 40 kilo­me­tres from Hyderabad.

In ad­di­tion to an R&D cen­tre, Fer­ring is plan­ning to make Hyderabad its com­mer­cial hub and man­u­fac­tur­ing base, said Te­lan­gana in­dus­tries sec­re­tary Arvind Ku­mar. Fer­ring, founded by Fred­erik Paulsen in 1950 in two rented rooms in Malmö, Swe­den, is a world leader in pep­tides or small pro­teins, with rev­enues of €1.5 bil­lion in 2015. The com­pany makes prod­ucts for re­pro­duc­tive health, gas­troen­terol­ogy, urol­ogy, or­thopaedics and en­docrinol­ogy. Fer­ring has two plants in In­dia, both in Maharashtra.

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