The Telangana government said on Sunday that Slayback Pharma, a US-based complex generic and specialty drugs company, will invest $20 million over the next three years to expand its operations in Hyderabad. This would entail establishing a cGMP laboratory and manufacturing facility within the city. In the last five years, the company has already invested approximately $30 million.
The company made the announcement during a meeting with Ajay Singh, founder and CEO of Slayback Pharma, during a delegation led by Telangana IT and industries minister KT Rama Rao’s US visit.
The company, which began operations in Hyderabad in 2017 with approximately 35 employees, has grown to three locations with a combined workforce of 106. In 2018, it opened a research and development facility in Genome Valley that includes an injectable formulation development laboratory, an OSD (oral solid dosage) formulation development laboratory, and an analytical development laboratory.
KTR stated, “I am delighted to note the phenomenal growth of Slayback Pharma in Hyderabad and its expansion plans. I am confident that the vibrant ecosystem of Hyderabad will continue to support the company’s growth aspirations and I am happy to see many such life sciences companies scaling new heights.”
Slayback Pharma headquarted in New Jersey announced expansion of its operations in Hyderabad by opening a cGMP Lab and a manufacturing facility. The decision was conveyed during a meeting of Minister @KTRTRS with Mr. Ajay Singh, Founder & CEO, Slayback Pharma. pic.twitter.com/WvLfIOWkqB
— Minister for IT, Industries, MA & UD, Telangana (@MinisterKTR) March 27, 2022
Additionally, the delegation met with Advent International, a private equity firm with plans to invest in Hyderabad’s life sciences and pharmaceutical companies.