India received a great news on Monday, and the news came from America. American pharmaceutical company Eli Lily & Co. is planning to invest $ 1 billion (more than Rs 8,879 crore) in India over the next few years. Giving information about this in a statement, the US pharmaceutical company said that it will further strengthen the manufacturing and supply capabilities of the strategic investment company.
Hyderabad will have a new center
In addition to disclosing its $ 1 billion huge investment plan in India, the company also announced that Lily would set up a new center in Hyderabad, providing high-quality technical capabilities to the company’s manufacturing network across the country. This step underlines India’s growing importance as the center of drug manufacturing and global supply chain.
The step has been taken by Elli Lily after its weight loss in India and the launch of diabetes drugs, Monjaro, which has seen a rapid demand globally. Analysts say that this investment will also help the company to ensure the long -term supply between obese drug markets in the market.
Company trusts India
According to Elli Lily, this investment will be made in partnership with local drug manufacturers in Telangana to expand the drug production and improve the availability of major drugs used in the treatment of obesity and diabetes to Alzheimer’s, cancer and immune related diseases.
“We are investing significant to expand manufacturing and drug supply capacity worldwide, and India is a center of capacity building in our global networks,” said Patrick Jonson, Executive Vice President of Lily International, said. According to a PTI report, Eli Lily & Co. has committed to invest more than $ 55 billion globally, including the US by 2020.
The Chief Minister of Telangana said this important thing
Regarding the announcement of Elli Lily’s investment plan in Telangana, the Chief Minister of the state A.K. Revanth Reddy said, “Lily’s continuous expansion in Hyderabad reflects the emergence of the city as a powerful center of global healthcare innovation.” Industry Minister Sridhar Babu also cited Telangana’s technology-manual development and ease of business as an attraction for multinational drug makers.
