Tata industries has made an undisclosed investment to pick up about 30% in Hyderabad based Indigene Pharmaceuticals. This is the third investment the group has made in the pharmaceuticals and allied space over the last few years.

“The Tata group has been actively seeking new opportunities in knowledge based industries. Biotechnology and biopharmaceuticals offers great potential in creating value and improving the quality of life people around the world. We see a bright future in the pharmaceutical industry and Indigene” Ratan Tata chairman of TIL said in a statement.

Indigene is a four years old company with a focus on both prescription and consumer health care products. The company; with operations in the US, Europe and India, is set to launch four consumer healthcare products in the US. The products will be launched in India in ’07 Vaman Rao Chairman and CEO of Indigene Pharmaceuticals said that the funds raised through TIL’s investment will be used in expanding the company’s facilities as well as funding other initiatives.