Ferring Pharmaceuticals R&D lab to come up in Hyderabad

Ferring Pharmaceuticals, a pharma major from Europe, laid the foundation stone for their state- of-the art R&D laboratory and manufacturing facility here today.

The event was attended by Telangana Industries Minister KT Rama Rao and several other dignitaries, a state government release said.

Ferring Pharmaceuticals is a Switzerland-based Euro 2 billion research-driven specialty biopharmaceutical group and a leader in reproductive medicine and womens health. It has a strong presence in specialty areas within gastroenterology and urology, it said.

Ferring established its Indian subsidiary in 1997 and has thus far established a manufacturing facility, an R&D centre and commercial operations in Maharashtra, it said.

"The new facility will also add to group's global R&D capabilities and will cater to building a pool of novel research for emerging healthcare challenges around the world.

Ferring plans to complete the project in three phases with a total proposed investment of USD 250 million, with an estimated INR 235 crore into the first phase itself," the release said.

Welcoming Ferring to Genome Valley, a life sciences cluster here, Rao said the government is "delighted to have Ferring Pharma join the impressive list of companies who are present in this cluster".