The Swiss-based Ferring Pharmaceuticals will set up its new research and development laboratory and a manufacturing facility at the Genome Valley of Hyderabad.

As part of this initiative, the firm recently laid a foundation stone for the construction of its global R&D centre and is expected to invest Rs. 1700 crores to complete the entire project in three phases.

According to Suresh Pattathil, CEO of Ferring India, “With this new facility at Genome Valley in Hyderabad, now we are expected to cater to building a pool of novel research for the emerging healthcare challenges within India and around the world.”

Currently, Ferring Pharmaceuticals is a globally renowned firm with an overall turnover of 2 billion Euros. The firm has reckoned as a research driven specialty biopharmaceutical group dealing with reproductive medicine and women’s health with strong presence in areas within gastroenterology and urology.

The group has headquarters in St. Prex, Switzerland with a portfolio of manufacturing facilities across Europe, North America, and South America, China and now in India. The company is marketing its products in over 100 countries across the globe.

It is learnt that the management of Ferring group was keenly perusing to establish its presence in Hyderabad’s Genome Valley for some time now. However, with the pro-active industrial policy of state government and at the same time presence of the right kind of infrastructure, skilled manpower pool and the availability of the suitable ecosystem have all accelerated the firm to lay its foundation stone for its global R&D facility. “Progressive governance, and forward looking industrial policy of the state government and available necessary infrastructure have all attracted our chairman Dr. Fredrik Paulsen to invest in Genome Valley,” informed Suresh.