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

The leading drug maker signed an Investment Intention Form for the state-of-the-art pharmaceutical formulations manufacturing unit at Make in Odisha Conclave 2022 in Bhubaneswar.

Cadila Pharmaceuticals, one of the oldest and largest privately-held pharma companies in the country, has signed an Investment Intention Form (IIF) with the Government of Odisha for setting up a state-of-the-art 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, the flagship global investors’ meet of Odisha, by Shri Hemant Sharma, Principal Secretary of Odisha’s Industries Department, and Mr Raj Prakash Vyas, President of Corporate Affairs at Cadila Pharmaceuticals in the presence of Odisha Chief Minister Hon’ble Shri Naveen Patnaik 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 Limited’s proactive step to JOIN THE JUGGERNAUT and set-up a pharmaceuticals formulation manufacturing unit with an investment interest of INR 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 Shri Hemant Sharma, Principal Secretary, Industries Department, Government of Odisha

“Government of Odisha’s conducive Industrial Policy 2022 ensures affordable medication and healthcare to the poorest of the poor – which is Hon’ble Chief Minister Naveen Patnaik Ji’s key goal and long term vision. Cadila Pharmaceuticals Limited, established in 1951 and with its innovative products in various therapeutic areas, will be a valued addition in Odisha’s growth of economy and health security.” Said Smt. Shalini Pandit, Commissioner-cum-Secretary, Health & Family Welfare, Government of Odisha.

Shri Subodh Kumar Nayak, Drugs Controller, Government of Odisha conveyed his best wishes to Cadila Pharmaceuticals Limited 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 Mr Raj Prakash Vyas, President – Corporate Affairs.

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

The Make in Odisha Conclave is a key strategic engagement to showcase the unique capabilities and business environment Odisha offers. The third edition of the Conclave culminated in Bhubaneswar on Saturday with investment proposals of Rs. 10.5 trillion, according to the government of Odisha.

*This press release is published by VOH team.*