Vibrant Gujarat 2015 sees 175 investment intentions in pharmaceuticals

Ahmedabad: Indian and global companies have expressed 175 investment intentions — the total value of which could easily cross Rs 1,000 crore — in the pharmaceutical sector of Gujarat.

The memorandums of understanding (MoUs) would be signed during the coming Vibrant Gujarat Summit, to be held between January 11 and 13. The business and trade meet will be held in Gandhinagar.

While senior officials of the state government were reluctant to reveal the details of the proposed investments, H G Koshia, commissioner, Food and Drug Control Administration, Gujarat, said: “Some of the key names include Leva Pharma, BDR Pharma International, Advanced Meditech Solutions Pvt Ltd, IPCA Labs as well as a few like Amneal Pharma and Zydus Cadila, which are planning to take up expansion projects in the state.”

He added Amneal’s expansion project would cost around Rs 300 crore. “While major pharma companies are planning bigger investments — to the tune of more than Rs 100 crore — there are many small projects the size of a few crores of rupees.”

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.