Drug manufacturing major Aragen Life Sciences announced plans for expansion of its Mallapur facility with a fresh investment of Rs 2,000 crore, at Hyderabad in Telangana.

The expansion, primarily targeted towards drug discovery, development and manufacturing, is expected to create 1,500 new jobs.

The announcement was made during a meeting between Chief Minister A Revanth Reddy and Manni Kantipudi, whole time Director and CEO of Aragen Life Sciences.

Chief Minister Revanth Reddy welcomed the massive investment plans of Aragen Life Sciences, a global leader in the pharma sector, in Hyderabad. “This shows the State government’s resolve to build a next-level vibrant ecosystem, extraordinary infrastructure and showcasing our rich talent pool that can drive innovation to the works,” he said.

Manni Kantipudi said that they were excited about five-year expansion plans and have decided to invest Rs 2,000 crore in Hyderabad, Telangana. He said the Chief Minister’s leadership inspired confidence that Hyderabad will consolidate its undisputed national status as headquarters for CROs and CDMOs over the years.