Cadila Pharma signs IIF with Odisha govt for pharma formulation manufacturing unit

Cadila Pharmaceuticals has signed an Investment Intention Form (IIF) with the Government of Odisha for setting up a pharmaceutical formulation manufacturing unit under the Odisha government’s newly-launched Industrial Policy 2022.

The IIF was signed at the Make in Odisha Conclave 2022 by Hemant Sharma, Principal Secretary of Odisha’s Industries Department, and Raj Prakash Vyas, President of Corporate Affairs at Cadila Pharma in the presence of Odisha Chief Minister Naveen Patnaik and distinguished corporate leaders.

“We warmly welcome Cadila Pharmaceuticals Limited’s proactive step to JOIN THE JUGGERNAUT and set up a pharmaceuticals formulation manufacturing unit with an investment interest of Rs 100 crore in Odisha, and assure to extend all possible end-to-end support from the Government of Odisha to fast track its establishment,” said Sharma.

Cadila Pharmaceuticals, with its innovative products in various therapeutic areas, will be a valued addition in Odisha’s growth of the economy and health security,” said Shalini Pandit, Commissioner-cum-Secretary, Health & Family Welfare, Government of Odisha.

Subodh Kumar Nayak, Drugs Controller, Government of Odisha conveyed his best wishes to Cadila Pharma and assured all possible support from regulatory aspects in the State.

“The planned state-of-the-art pharmaceutical formulation manufacturing unit in Odisha is a strategic engagement for Cadila Pharmaceuticals in its business expansion and diversification strategy. It will also go a long way in establishing a strong presence in the eastern part of the country,” said Raj Prakash Vyas, President – Corporate Affairs.

The proposed green field pharmaceutical formulations manufacturing unit at Malipada, Bhubaneswar with an initial investment of Rs 100 crores is envisaged to be one of the biggest pharma manufacturing units in the region. The government of Odisha will provide fast-track approvals to support in setting up the said project.

The third edition of the Conclave culminated in Bhubaneswar with investment proposals of Rs 10.5 trillion, according to the government of Odisha.