Hetero to invest Rs 1,000 crore in AP over two years to expand pharma business

Visakhapatnam (AP), Mar 4 (PTI) Drug maker Hetero Group will be investing Rs 1,000 crore to expand its pharmaceutical and specialist business in Andhra Pradesh, its Managaing Director Vamsi Krishna Bandi said on Saturday.

Speaking at Global Investors Summit 2023 here, he said post-Covid pandemic, more countries are looking at India as a partner of choice in pharmaceutical sector, and Andhra Pradesh is ideally placed to take advantage because of a well-established ecosystem.

“We are committed to Andhra Pradesh and will continue to expand our presence here. We’ll be investing about Rs 1,000 crore in Andhra Pradesh over the next two years to grow our pharmaceutical and specialty business. This will generate an employment of a minimum of 3,000 people,” he said.

Bandi further said the USD 2.5 billion pharma group employs over 10,000 people directly and indirectly in Andhra Pradesh, and supplies about 40 per cent of global HIV medicines that are manufactured in the state.