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Dr. Reddy's Labs, the Hyderabad-based pharma major, is keen on investing more in the new Andhra Pradesh State after the bifurcation, but there is no intention of shifting the corporate office from Hyderabad, according to Chairman K. Satish Reddy.
He was speaking to reporters at Sancham village in Srikakulam district on Thursday after the inauguration of a community health project launched by the group in association with NICE Foundation in the village. The bulk drugs unit of the group is located at Pydibheemvaram in the district. Srikakulam Collector P. Lakshminarasimham was the chief guest on the occasion.
Reddy said the group had invested over Rs 1,000 crore during the past five years or so in the region on the three units — one in the special economic zone at Duvvada near Visakhapatnam (injectibles unit), and two units in Srikakulam (a bulk drug unit and a formulations unit).
“Visakhapatnam is emerging as the next major pharma hub and, therefore, we will invest more here , but we expect the AP Government to improve the infrastructure, especially air cargo facilities from the Visakhapatnam airport,” he said.
He said the company was spending the statutory 2 per cent on corporate social responsibility (CSR) initiatives. "We will be spending Rs 3.5 crore on providing healthcare facilities to 54 villages in Ranasthalam mandal in the district over a period of five years," he added.
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