Spanish multinational company Chemo Pharma has announced an investment of ₹100 crore to establish a second line in their production area in Hyderabad.
The new line would be used to produce pharma finished dosage forms.
The announcement was made after Telangana IT and Industries Minister KT Rama Rao’s meeting with Jean Daniel Bonny, R&D Director (Pharmaceuticals Generics Business of the Chemo Group) at the World Economic Forum in Davos on Monday.
Chemo India Formulation started its operations in Genome Valley in 2018 with research, development and manufacturing of pharmaceutical finished dosage forms with specialisation in oral dosage formulations.
“Since then, the company has witnessed tremendous growth and invested around ₹170 crore till now and created 270 jobs,” it said.
Globally, Chemo has around 10 manufacturing plant, over 1,100 clients, 10 R&D centers and over 100 APIs and finished dosage forms.
In 2021, the company has established additional Quality Control and Stability Labs in their facility in Hyderabad.
“The company is also planning to initiate a new Active Pharmaceutical Ingredient and R&D Centre in Hyderabad along with continuing new product development activities in solids and injectable in Genome Valley in Hyderabad,” a company statement has said.