Mylan says will invest $ 5- billion in Andhra Pradesh

Discussion in 'Economy & Infrastructure' started by cobra commando, Apr 20, 2015.

  1. cobra commando

    cobra commando Tharki regiment Veteran Member Senior Member

    Oct 3, 2009
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    US generics pharmaceutical company, Mylan, today said it was looking at expanding its presence with an additional investment of $ 5 billion in Andhra Pradesh. Rajeev Mukundan, senior vice- president (legal) of Mylan, who was a part of a delegation representing the US-India Business Council(USIBC), informed Andhra Pradesh chief minister N Chandrababu Naidu about the latest investment plans on Monday. "We are looking at expanding our presence with an additional investment of $5 billion in Andhra Pradesh," Rajeev was quoted as saying in a statement issued by the chief minister's office. An independent confirmation from Mylan about the investment plans shared with AP government is awaited from the company. During the meeting the company vice-president informed the chief minister that the pharmaceutical company already has four facilities in Visakhapatnam. Mylan had entered India in 2007 by acquiring a Hyderabad-based active pharmaceutical ingredients (APIs) maker, Matrix Laboratories. Since then the company had made a series of acquisitions including an US FDA approved plant in Visakhapatnam from SMS Pharmaceuticals for $ 32.5 million in the past. With the acquisition of Agila Specialties in 2013, Mylan significantly expanded and strengthened its global injectable platform by adding six additional injectable facilities in India. It has state-of-the art R&D facilities for API and other products at Hyderabad and for injectables at Bengaluru. These facilities have more than 1,000 scientists, according to the company.

    Read more:
    Mylan says will invest $ 5-billion in Andhra Pradesh | Business Standard News

    SREEKAR HELLRAIDER21 Senior Member

    Jan 30, 2015
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    No it was some chinese company agreed to invest in andhra Pradesh. ...I saw this news in Tv9
    I am not sure......this may be another news....
    Anyway ...nice article :peace:

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