Insulin maker GeneSys to invest $50-60 mn to set up plant in Hyderabad
Biotechnology company GeneSys Biologics Pvt Ltd is planning to invest USD 50-60 million to set up a new large-scale recombinant bulk manufacturing facility in Genome Valley here for the production of insulin analogues.
The insulin analogues (medical insulin that are altered forms of the human hormone insulin) will be produced in the recombinant bulk manufacturing facility in which purified bulk insulin will be derived through fermentation.
An official press release said the Hyderabad-based company has already invested approximately USD 50 million in its Genome Valley plant.
Telangana IT and Industries Minister K T Rama Rao expressed delight over the expansion plans of GeneSys saying it will not only contribute to the growth of Hyderabad's biotech sector but also facilitate the company's ongoing collaboration with US-based Civica Rx.
GeneSys has partnered with Civica Rx, a US non-profit generic drug company, to manufacture and distribute affordable insulin.
The minister congratulat