Chief Minister inaugurates Global Bio-Pharma Conference

Biotech SEZ at Genome Valley

The Chief Minister, Dr. YS Rajasekhara Reddy on Thursday inaugurated the Global Bio-Pharma Conference-2006. Speaking on the occasion, he said that the Central Government has given clearance for setting up a sector specific SEZ in biotechnology at Genome Valley. He said that Hyderabad is the fastest growing city in biotechnology R&D innovation and contract manufacturing.

He said that the bio technology would help improve economic development and called for its effective use to increase food production. He promised all necessary help would be given to pharmaceutical executives, entrepreneurs and scientists to synergize the opportunities and challenges in establishing new ventures.

The Union Minister of State for Human Resources Development D. Purandareswari said the Indian Biotech industry's revenues were $1.1 billion in 2004-05. The Association of Bio Technology Led Enterprises (ABLE) was aiming to push the growth to $5 billion to generate one million jobs by 2009. The US based biopharmaceutical company Novavax executive directors said that it is planning to collaborate with city based Bharat Biotech t produce a vaccine for pandemic flu.

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