Karnataka has attracted 15 pharma investment proposal valued at Rs 357.86 crore in the last 21 months at the Bommasandra Industrial Area in the outskirts of Bangalore. In the last three months, between November 2004 and January 2005, the state managed to attract investments of Rs. 49.60 crore at the same location.

"The investment proposals have proved that a favourable industrial climate prevails in the state for the pharma sector, Karnataka minister for industries & infrastructure PGR Sindhia told Pharmabiz.com. Investments like Apotex and Hexal are from the Foreign Investment Promotion Board (FIPB). Karnataka Udyog Mitra, the single window agency cleared the investment proposals.

The units that have been cleared in the last three months are Apotex Research Pvt. Ltd., Siddhi Vinayaka Spechem Pvt. Ltd. and Bal Pharma.

Apotex Research Pvt. Ltd., which is part of the Canadian-based generic pharmaceuticals and drug research company, is setting up a pharmaceutical research and development units at an investment cost of Rs 24.20 crore. The facility is coming up on 8.20 acres at the 4th Phase of the Bommasandra Industrial Area and will employ 240 personnel. Primarily research will be done on the tablets and capsules. The power sanctioned for the project is 750 KVA.

Siddhi Vinayaka Spechem Pvt. Ltd. will be a setting up bio chemicals production unit at an investment of Rs 12 crore. The unit is coming up on two acre and will employ 140 personnel.

Bal Pharma is setting up a bulk drug unit on a 5-acre plot at an investment of Rs 13.40 crore. The company will be producing 14 products here for the regulated markets.

The Bommasandra Industrial Area, which had a total land availability of 600 acres has seen 15 projects in the drugs production sector. The notable companies are Sigma Aldrich, a US-based life sciences and chemical specialist, Hexal Pharma, a fully owned subsidiary of HEXAL AG, Austria, Cipla, Brantford Chemicals, Organic Aromatic, Futuristic Diagnostic Imaging Centre, Biovel Healthcare, GVK Biosciences, Unitop Chemicals, Jamshedpur Injection Powder, Crescent Polymers, Gopalan Enterprises International Herbal Extractions, Sri Satya Sai Narayana Hospital, Micro Labs, Bal Pharma, Apotex and Siddhi Vinayaka Spechem.

According to officials from the department of industries, Bommasandra has managed to attract the highest investment from the pharmaceutical sector in the last 14 months. The main reasons for companies to opt for the location is the easy accessibility to Bangalore which has scores of research institutes and pharma-biotech educational institutions. The industrial area is located on the Bangalore-Hosur Road which is already a presence of several pharma-biotech-healthcare units in the vicinity.