Laurus Labs Ltd, an Indian pharmaceutical and biotech company, inaugurated a new “state-of-the-art” research and development facility at IKP Knowledge Park in Telangana on September 16, 2024. The 200,000 square foot centre, representing an investment of ₹250 crore, was opened by Telangana’s IT and Industries Minister, Duddilla Sridhar Babu, alongside Laurus Labs’ Founder & CEO, Dr Satyanarayana Chava.
The shares of Laurus Labs Ltd were trading at ₹503.80, down by ₹1.75 or 0.35 per cent on the NSE today at 3 pm.
This facility marks Laurus Labs’ fifth R&D centre and is expected to create job opportunities for over 800 people. The new centre is designed to support the company’s Contract Development and Manufacturing Organization (CDMO) business and advance its mission of developing “Chemistry for Better Living.”
Dr Chava emphasised the facility’s role in fostering innovation and addressing unmet medical needs. Laurus Labs, founded in 2005, has established a global presence in various pharmaceutical segments, including active pharmaceutical ingredients and CDMO services. The company reported annual revenue of ₹6,041 crore in FY2023.