Hyderabad: Sweden-headquartered EMPE Diagnostics plans to invest Euro 25 million (approximately 208 crore) in setting up its global production facility for tuberculosis diagnostics kits at Genome Valley with a capacity to manufacture 2 million kits per month.
While initially the company plans to invest 25 crore in the facility and create 25 jobs, it plans to later invest another 50 crore that will create an additional 150 jobs.
Over the years, the company plans to invest around Euro 25 million in the facility, the company’s top honchos told IT minister KT Rama Rao during a meeting at the World Economic Forum (WEF) at Davos.
Currently, the Swedish company is conducting clinical evaluations in at least five countries for its diagnostic kits for tuberculosis and the products to be produced in Hyderabad will be sold globally, its founder & CEO Dr Pavan Asalapuram told the minister.
Asalapuram pointed out that though India is one of the 30 high TB burden countries, Eastern European countries house the highest proportion of multidrug resistance patients.
