Switzerland-headquartered Ferring Pharma has proposed to invest between $100 and $250 million in setting up a facility in the upcoming Pharma City on the outskirts of Hyderabad.
In their meeting with the Telangana State Chief Minister, K Chandrasekhara Rao today, its CMD, Frederik Paulsen and India Head, Ashok Alate said they are a research and development company and would like to concentrate in Telangana.
The €1.5 billion turnover Ferring Pharma has 9 plants worldwide in countries like Argentina, china, Czech Republic, Denmark, Germany, Israel, Mexico, Scotland and Switzerland besides 9 more R&D Units in other countries. They have two plants in Maharashtra.
During the discussions, they assured `Zero discharge’ with complete treatment facilities within the premises. No toxic chemicals would be used in their unit and theirs would be the safest drugs and are useful as life saving medicines in super speciality Hospitals.
The CM said that the Government proposes to establish a Pharma University in addition to the Pharma City. A study was being done as to how pharma production is managed in Scandinavia, European countries and United States to adopt the best practices. CM also mentioned that the proposed pharma city will have separate townships and common treatment plant.