Indian Company to Invest $35M in Virginia R&D Facility
- May 23, 2017
Pharmaceutical company Granules India Ltd. revealed plans to invest $35 million into its wholly owned subsidiary Granules Pharmaceuticals Inc., to expand R&D and manufacturing operations in Fairfax County, Va. Granules invested $15 million back in 2014 to establish the subsidiary and create 75 jobs.
Headquartered in Hyderabad, India, the company manufactures active pharmaceutical ingredients, formulation intermediates and finished dosages. Granules operates a 100,000-square-foot facility in the Chantilly area of Fairfax County. This investment will enable the company to conduct research and development in order to formulate and eventually manufacture products at the plant. The Virginia Economic Development Partnership revealed plans to support the company’s job creation through its Virginia Jobs Investment Program.
“Setting up a development and manufacturing presence in the United States was the first step we took as a company to meet our strategic focus on strengthening our global presence,” Priyanka Chigurupati, executive vice president of Granules India, said in a prepared statement. “There is a lot of untapped potential with a highly educated and technically savvy workforce, reliable security, diverse amenities and state-of-the-art infrastructure including Dulles International Airport, the Port of Virginia, and the expanded Metrorail in close proximity.”
Image courtesy of Granules India