Tel govt prioritising innovation in pharma sector: Minister

The Telangana government has recognised life sciences as a thrust area and is giving top priority to research and innovation in the pharma sector, state IT and Industries Minister KT Rama Rao said today.
At a meeting, Rao met with the representatives of Telangana Life Sciences Advisory Committee and discussed the investment opportunities as well as the action plan to boost the life sciences sector in the state, an official release said.
The minister said the government was aiming at attracting new investments and at the same time giving priority to the existing industries.
The government is also planning to set up an investment promotion body which will closely work with investors.

Rao said the Genome Valley, Hyderabad Pharma City, and Medical Devices Park together make Hyderabad a unique destination for global life sciences industry.
In order to strengthen the sector, the government will also set up an incubator similar to T-Hub at Genome Valley and the proposed incubator will help in research and innovation in the life sciences sector, Rao said.

The government is working on strengthening the life sciences eco-system in Telangana and will be exploring opportunities in the fields of digital medicine and artificial intelligence, he said.
Research and Innovation Circle of Hyderabad (RICH) will coordinate between Pharma companies, educational institutions and research institutions like CCMB to strengthen the research work, according to the minister.

Rao informed the advisory committee members that he would seek sanction for a special fund in the upcoming Budget to help the start-ups in life sciences sector, the release added.