47% of pharma MOUs from VGGS 2024 commissioned
Gandhinagar: The state govt said that 47% of MoUs signed in the pharmaceutical sector in the Vibrant Gujarat Global Summit (VGGS) 2024 have been commissioned. It said on Friday that of the 370 MoUs signed in the sector in the last summit held in January 2024, 175 were commissioned and 153 are in various stages of implementation.
The MoUs signed in the pharma sector had resulted in a total investment of approximately Rs 11,114.13 crore, providing employment to 20,141 people in the state, health minister Rushikesh Patel said. Pharmaceutical companies had pledged Rs 30,000 crore in investments during VGGS 2024.
An official statement said that among the commissioned projects in 2024, foreign companies like Senador Laboratories Pvt Ltd, Spain, invested Rs 2,500 crore in contraceptive drug production, creating 500 jobs.
Amneal Pharmaceutical Pvt Ltd, US, invested Rs 700 crore in injectable drug production, also creating 500 jobs. Sysmex India Pvt Ltd, in collaboration with Japan, invested Rs 210 crore in medical device production, providing employment to 70 people.
Merrill Group invested Rs 910 crore in medical device production, creating 300 jobs, while Swati Spentose Pvt Ltd, Vapi, invested Rs 500 crore, providing employment to 300 people.
by Taboola
by Taboola
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Gujarat accounts for 33% of the country's total pharmaceutical production. Medicines are exported to around 200 countries worldwide, and Gujarat holds approximately a 28% share in India's total pharmaceutical exports. Currently, there are about 5,850 licensed manufacturers in Gujarat, producing allopathic, ayurvedic and homeopathic medicines, medical devices and cosmetics.
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