French multinational company Schneider Electric and Swiss firm Ferring Pharma have announced expansion of their operations in India.
Manufacturing facility
Schneider Electric, an energy management and automation firm with a presence in over 100 countries, has said it will set up its second manufacturing facility in Hyderabad. The company would manufacture breakers, connectors and switches for energy management and automation products from its new facility.
“Companies like Schneider Electric will play a crucial role in meeting energy management and automation needs of our industries and factories,” said Telangana IT and Industries Minister KT Rama Rao.
While doubling it’s capacity with its second manufacturing facility in Telangana, the French firm would help create about 1,000 jobs.
Formulation unit
Ferring Pharma has said that it will establish another formulation unit in Hyderabad for manufacturing its product PENTASA (Mesalazine). It will invest about €60 million over the next 2-3 years in this manufacturing facility.
It said PENTASA used for the treatment and long-term management of inflammatory bowel diseases (IBD), including ulcerative colitis and Crohn’s disease. It is prescribed to treat the mild to moderate symptoms of active IBD, as well as used widely as maintenance therapy to reduce the risk of recurrent attacks. PENTASA is available orally as tablets and granules (sachets) within Europe and the rest of the world, with the exception of the US. In the US, Shire US, sells PENTASA under a trademark license from Ferring.
Ferring produces the active pharmaceutical ingredient (API) Mesalazine at two of its manufacturing facilities in Denmark and in India (near Mumbai).
World Economic Forum
The two companies made these announcements on the sidelines of the World Economic Forum 2022 at Davos (Switzerland) on Wednesday.
A Ferring delegation led by Alessandro Gilio, Executive Vice-President and Chief Manufacturing and Supply Officer, met the Telangana State government delegation here. The Industries Minister met Christoph Franz, Chairman of pharma major Roche, and invited the company to consider investing in Telangana’s life sciences ecosystem as well.
The Telangana team also held discussions with Hitachi India Managing Director Bharat Kaushal, and appealed to it to expand its research and development base and consider investing in manufacture of high-speed rail systems.