Ferring Pharmaceutical plant to serve Make in India vision

Danish Ambassador Freddy Svane Friday visited the state-of-the-art manufacturing plant being constructed by Ferring Pharmaceuticals in Ambernath near here, and said it would boost Prime Minister Narendra Modi's Make in India programme, a company statement said here.

The plant is being set up in the Maharashtra Industrial Development Corporation area of Ambernath.

"The whole idea of the site fits very well with Prime Minister Narendra Modi's vision to back indigenous production. This not only creates huge job opportunities and fund inflow for the nation, but also paves the way for similar foreign companies looking to invest off-shore as Ferring successfully brings its technologies and expertise to 'Make in India'," the ambassador said.

The manufacturing site, which is expected to be inaugurated next year, is being built as per the latest European standards in order to cater to the global supply of Ferring's major product, Pentasa - a drug used to treat and control the symptoms of inflammatory bowel disease, the statement said.

In 2013, Ferring started building the drug manufacturing facility with an estimated investment of Rs.200 crore that would effectively complement its requirement worldwide.