BE to invest Rs 300 crore in new vaccines plant in Hyderabad
Hyderabad, Feb 6 (IANS) Biological E. Limited (BE) will invest Rs 300 crore in a new vaccine plant at Genome Valley here.
It is scheduled to be completed by April next year while commercial production is expected to begin by December 2019.
BE Managing Director Mahima Datla said the new plant will help augment the company’s vaccine production capacity as well as manufacture new products that are in the pipeline.
She said the initial investment of Rs 300 crore was in line with and part of the already earmarked overall outlay of Rs 1,000 crore in the Genome Valley across BE’s vaccines and pharma businesses.
The expansion of BE’s facility is expected to create jobs for around 1,000 people.
Paul Stoffels, Worldwide Chairman, Pharmaceuticals, Johnson & Johnson (J&J) and Soumya Swaminathan, Director General, Indian Council of Medical Research, were present on the occasion.