Cadila Pharma signs Investment Intention Form (IIF) with Odisha Government

Cadila Pharma has signed an Investment Intention Form (IIF) with the Government of Odisha for setting up a state-of-the-art pharma formulation manufacturing unit under the Odisha government’s newly-launched Industrial Policy 2022, a statement from Cadila Pharma notified.

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

“Among other sectors, the pharmaceuticals and healthcare sector is considered as a thrust sector for government of Odisha. We warmly welcome Cadila Pharmaceuticals’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 in the statement.

Adding to it, Raj Prakash Vyas, President – Corporate Affairs, Cadila Pharma, also said, “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.”

The proposed green field pharma formulations manufacturing unit at Malipada, Bhubaneswar, with initial investment of Rs 100 crore 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, concluded the statement.