Medical Devices Park to come up in Sultanpur Village Medak District: While the State Government is already trying to attract foreign investments for the proposed Hyderabad Pharma City, a Medical Devices Park to come up in Sultanpur Village.
“Around 70 percent of the medical devices required for the country are being imported from other countries,” sources said explaining the need for attracting investments in the medical devices sector.
Medical Devices Park to come up in Sultanpur Village
IT and industries minister KT Rama Rao will address AdvaMed 2016, a leading MedTech conference in North America on October 19.
The conference will help to bring more than 1,000 companies together for business development.
Normally, the new pharmaceutical companies have to obtain permission from the US Food and Drug Administration (USFDA). However, the USFDA has agreed to start its units in Hyderabad Pharma City to give spot approvals. There is a branch of USFDA branch in Bangalore. “This will be an advantage for new pharma companies,” Rama Rao said.
He said there is no need to take environmental and pollution clearances for Hyderabad Pharma City. “The entire layout will have clearance and the individual companies need not obtain permissions separately,” Rama Rao explained.
The minister said the master plan and designs of the Hyderabad Pharma City (HPC) would be ready in two weeks.