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

Unnati More Dec 05, 2023 6

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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