Mylan to invest $5 bn in Andhra Pradesh to expand presence

Global pharmaceutical major Mylan is considering strengthening its footprint in Andhra Pradesh with an additional investment of USD 5 billion (Rs 31,000 crore), a top company official said today.
A delegation of the US-India Business Council (USIBC) led by its Executive VP Diane Farrell today met Chief Minister Chandrababu Naidu at his Camp Office here, a release said.
During the meeting with Naidu, Mylan Senior VP (legal) Rajeev Mukundan said: "We are looking at expanding our presence with an additional investment of USD 5 billion in Andhra Pradesh."
At present, the company has four facilities in the state in Visakhapatnam.

Meanwhile another pharma company, Hospira's MD Srini Srinivasan told Naidu that it has already invested Rs 2,500 crore in its manufacturing facility in Visakhapatnam.
Moreover, a delegate from Johnson & Johnson evinced interest in working with the government on reducing infant and maternal mortality rate, women health and hygiene.

During the meeting Naidu said that he wants to see Andhra Pradesh as a healthcare hub with health and education being government's priorities.
"We are focusing on preventive as well as curative healthcare," the release quoted Naidu as saying.
"I'm open to public and private investments in healthcare. If you have proposals, we can discuss them with our Health Advisory Committee and take it forward," he said, adding that e-healthcare is also on his agenda.

Meanwhile, Diane Farrell informed the chief minister that USIBC is expediting the work on making Vizag a smart city.
"We're talking to companies and investors who are interested in making Vizag a smart city," she said.
Farrell invited Naidu to the US and asked the government to hold a road show on investment opportunities in Andhra Pradesh, the release added.