Telengana's Life Sciences sector garners Rs 6,400 crore in investment: Rama Rao

Telengana: The Life Sciences industry in Telangana has attracted investments worth more than Rs 6,400 crore from over 215 companies in the last year, creating extra employment for more than 34,000 people, said Telengana Industries Minister K T Rama Rao. He said,  the investment received was over 200 percent higher than the sector's prior year's investment.

He was speaking at the opening session of BioAsia 2022, Telangana's main annual biotech and life sciences convention, which is a virtual event.

The fact that two of the three indigenously developed vaccines - Covaxin and Corbevax - originate from Hyderabad is a source of great pride, according to Rama Rao. He further mentioned that both of the vaccines approved for children in India come from Hyderabad. Several pharmaceutical businesses are expanding in Hyderabad's Genome Valley, which is claimed to be the country's first systematically developed R&D centre, he said.

On the pharmaceutical front, he said, the state government is getting closer to launching Hyderabad Pharma City, the world's largest pharmaceutical cluster.

Drew Weissman, Department of Medicine, University of Pennsylvania, received the 'Genome Valley Excellence Award' for the year 2022, and he complimented him for his groundbreaking work on mRNA COVID-19 vaccines. Weissman later revealed in an interview  that he is working on a "pancoronavirus" vaccine with Sangita Reddy of Apollo Hospitals.

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