A US-based firm Bristol Myers Squibb has pledged an investment of nearly Rs 800 crore to set up its centre in Hyderabad.
A Memorandum of Understanding was signed by the state government officials and company delegates in the presence of IT minister Mr K T Rama Rao.
The company would engage in Drug development, IT, and Innovation sectors.
The company would engage nearly 1,500 employees over the next three years.
Mr Rama Rao said the latest investment by Bristol Myers Squibb (BMS), the global pharmaceutical firm will establish Hyderabad’s position as a life-sciences hub.
The minister further said it was a matter of pride for Telangana for the BMS has chosen Hyderabad city. He promised to extend all kinds of support to the company and reminded that there was no dearth of talent in Telangana. He hoped the company would prosper beyond its expectations.
By Gollapudi Srinivasa Rao