Eight major Pharma Companies sign MoUs with Gujarat govt with total investments worth INR 1,770 Crore

The Gujarat Government has signed MoUs (Memorandum of Understanding) with eight leading pharmaceutical companies worth approximately 1,770 INR Crore to strengthen its position as a manufacturing hub for formulations and bulk drugs.

These include:

1. Micro Life Sciences Private Ltd – To develop its facility at Vapi worth an approximate investment of 480 INR Crore.
2. Intas Pharmaceuticals Limited – To set up its manufacturing unit at Valiya in Bharuch with an estimated investment of 250 INR Crore.
3. Innoxel Life Sciences Pvt Ltd – To set up its manufacturing plant at Vaghodia, Vadodara worth an estimated investment of 220 INR Crore.
4. Meril Life Sciences Private Limited – To develop its manufacturing plant at Vapi worth an estimated investment of 220 INR Crore.
5. Meril Healthcare Pvt Ltd – To set up its plant at Vapi with a projected investment of 210 INR Crore.
6. Halewood Laboratories Pvt Ltd – To develop a facility at Bavla, Ahmedabad worth approximately 150 INR Crore.
7. Varenyam Biolife Sciences Pvt Ltd – To develop a facility at Savli, Vadodara at an approximate investment of 120 INR Crore.
8. Sun Pharmaceutical Industries Ltd – To set up its plant at Panoli, Bharuch with a projected investment of 120 INR Crore.

Also Read: India-Middle East-Europe Economic Corridor (IMEEC): A Global Economic Revolution

Apart from these, MoUs worth nearly 20,000 INR Crore were also signed online through the Investor Facilitation Portal (IFP) as a precursor to the 10th Vibrant Gujarat Global Investor Summit (VGGS)-2024 (to be held between January 11 and 13, 2024).

Furthermore, a few foreign companies are also interested in investments in Gujarat, including MedTech companies from Japan and the American MNC Procter & Gamble (P&G). Procter & Gamble is in the process of making investments worth approximately 2,000 INR Crore in its premium psyllium husk-based laxative drug product and 200 INR Crore in its Vicks range of products.

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