Laurus Labs Announces ₹5000 Crore Mega Investment in Visakhapatnam

In a major boost to Andhra Pradesh’s pharmaceutical sector, Laurus Labs, a leading pharma company, has announced plans to set up a state-of-the-art manufacturing unit near Visakhapatnam with an investment of ₹5000 crore. The Andhra Pradesh government has already allocated 532 acres of land for the project, which will be completed in phases over the next eight years, according to Laurus Labs CEO Dr. Chava Satyanarayana.

Speaking during a recent investors call, Dr. Satyanarayana revealed that the project will be developed to meet global manufacturing standards. He added that the company is open to further investments depending on project expansion needs.

In a strategic move, Laurus Labs has also decided to relocate its proposed large fermentation unit from Mysuru to Visakhapatnam, consolidating its major operations in Andhra Pradesh. This move is expected to transform Visakhapatnam into a key pharma manufacturing hub, creating significant employment and economic growth in the region.

Laurus Labs currently operates manufacturing and R&D centers in Hyderabad, Mumbai, Bengaluru, and Kanpur, employing over 7,000 professionals. Analysts believe this expansion will strengthen the company’s global position in the pharmaceutical industry.