Lonza to invest $150 m in Genome Valley

News Posted - 2010-02-18

Global bio-pharmaceutical giant, Switzerland-based Lonza will invest US $150 million (around Rs. 750 crore) in two major projects in the Genome Valley located on the city outskirts.

The Lonza group is a 100-year-old US $2.5 billion Swiss chemical and biotechnology company based at Basel.

This was announced on Wednesday by B.P. Acharya, Chairman and Managing Director, Andhra Pradesh Industrial Infrastructure Corporation (APIIC), during the ‘India Evening’ session at India Pavilion during the international biotech conference in Atlanta, USA. He released copies of the allotment letters issued to Lonza in the Genome Valley SEZ and Phase II Biotech Park for R&D and bio-pharmaceutical manufacturing facility.

“This is one of the largest investments in recent times in the bio-pharmaceutical sector in India and marks the emergence of India, in general and Genome Valley, in particular, as a preferred destination for global bio-pharmaceutical companies,” a press release issued by Andhra Pradesh Industrial Infrastructure Corporation said quoting Mr. Acharya.

Achievement

“This is an achievement of Bio Asia, the global bio-business forum, and Genome Valley to draw such companies as Lonza to Hyderabad. We are committed to such developments and hope that we will be able to strike such chords of success in Bio Asia 2010,” said B.S. Bajaj, secretary-general, Federation of Asian Bio-tech Associations (FABA).

Stefen Borgas, CEO of Lonza, had visited Genome Valley during Bio Asia 2009 and was impressed by the talent pool, scientific culture and the infrastructure facilities available there.

Source: The Hindu 21/5/2009