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Telangana seeks US investments in pharma, medical sectors

Press Trust of India  |  Hyderabad 

Highlighting the advantages of as an investment destination, Industries Minister today sought investments from US investors in pharma and medical-related sectors.

Rao, who is on a visit to America, interacted with industry leaders from pharma, medical technology companies on the sidelines of Medical Technology Conference - AdvaMed 2016 in Minneapolis, Minnesota, a Government release said here.

Noting that ranked high in ease of doing business index and has implemented a business-friendly industry policy, he explained the "unmatched advantages offers in the fields of healthcare, pharma and medical technology devices".

"The Minister drew the attention of the industry leaders, about a 100 in number, to the measures Telangana Government is taking to further strengthen the USD 50 billion extant life sciences industry in Rama Rao mentioned the state-of-the-art Pharma City and Medical Devices Park that Telangana is setting up near Hyderabad," the release said.

Rao held one-to-one discussions with leaders from healthcare, pharma and medical devices industries, it said.

In the meeting with Gary Pruden, Worldwide Chairman, Medical Devices, Johnson & Johnson, Rao held discussions on topics ranging from manufacturing, intellectual property rights, to regulatory issues.

He had a meeting with Omar Ishrak, Chairman and Chief Executive Officer for medical technology firm Medtronic on the sidelines of AdvaMed 2016, it said.

Benson Smith, Chairman, President and CEO of Teleflex Inc, met Rao. The Minister asked the medical devices firm to consider investing in Telangana. The minister also met Kevin Lobo, President & CEO of Stryker Corporation.

Earlier, Rao met Paul Kalil, Vice-President and Vemuri Murthy, India Liaison of American Heart Association in Chicago. The Minister urged them to join the State Government for a collaborative effort to reduce cardiac risks in Telangana. The association said they will soon visit to formalise the engagement, the release added.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, October 19 2016. 23:02 IST