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Hyderabad
Telangana government is targeting to double the size of the pharma-life sciences ecosystem in the State from $50 billion to $100 billion by 2028, said State Industries Minister KT Rama Rao.
Interacting with newspersons on the eve of the 20th edition of BioAsia 2023, scheduled to be held during February 24-26 here on Tuesday, Rao said the government would consolidate the existing capabilities and line up new measures.
The government was also focusing on innovation with government and industry synergy, and shifting focus from volumes to value, the Minister said, adding, “The upcoming Hyderabad Pharma City with a life sciences university and B-Hub to encourage start-ups will further boost the pharma-life sciences industry in the State.”
Global hub
On BioAsia, he said the stature and appeal of the flagship biotech event of the State have grown over the last two decades and the State has become a global hub for the life sciences sector.
“The WHO will also be setting up a lab in Hyderabad the details of which will be announced soon,” Rao said.
Bio Asia 2023, with the UK as its country partner, will bring together life sciences and healthcare leaders, academia, start-ups, regulators, and investors on one stage to deliberate on the cross-cutting themes of ‘One Health’ — disruptive technologies in health, and accessibility and affordability in healthcare for all.
“The event will also have a start-up showcase where about 75 select health-tech entrepreneurs can pitch their innovative solutions to pressing health issues,” Rao said.
In the last 20 years, BioAsia resulted in over ₹25,000 crore in investments, 20,000 partnerships and 30 policy papers, among others.
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