AVESTHAGEN LIMITED Gets "License To Heal": To Manufacture Bioactives for Ayurvedic Drugs
This license will help Avesthagen to tap into the huge Indian Ayurvedic market and the growing global market of Ayurvedic products.
Tweet-- AVESTHAGEN LIMITED, India’s leading life sciences company that focuses on the convergence of food, pharma and population genetics leading to predictive, preventive, personalized healthcare has been granted a license to manufacture bioactives for Ayurvedic Drugs by the Drugs Licensing Authority, under the Department of AYUSH, Ministry of Health & Family Welfare, Government of India. This license will help Avesthagen to tap into the huge Indian Ayurvedic market and the growing global market of Ayurvedic products.
Dr. Villoo Morawala Patell, Founder, Chairman and Managing Director of AVESTHAGEN LIMITED said “This license is proof that our research & development activities are reaping results. This significant milestone has opened a large market for us offering a great opportunity for growth. Ayurveda is one of the oldest health care systems in India, and this is a great opportunity for us to popularize the system internationally.”
The Ayurvedic industry, recorded annual sales of about Rs 7,000 crore in fiscal 2008. Ayurvedic ingredients, have been used in Indian healthcare and cosmetics products for centuries, are becoming increasingly popular in the West as the trend for natural and more holistic products continues. According to market research analysts, Indian Ayurvedic firms have the potential to strike $120 Billion in the global Herbal Market, and also have the potential to export them.
AVESTHAGEN LIMITED’S bioactive manufacturing unit, Dhanvantari Botanicals Pvt. Ltd., located near Bangalore, India is an ISO 9001:2000 certified unit. It is also one of the first few bioactive manufacturing units across the world to achieve ISO 22000-2005 and “Certified Organic” for processing. This facility is spread over 50,000 square feet with a state-of-the-art production and a R&D facility. The herbal extract manufacturing unit is the first of its kind in Karnataka with a certification by the Indian System of Medicine and Homeopathy to manufacture 43 bioactives as Ayurvedic products.
This bioactive manufacturing unit adheres to very stringent quality control and quality assurance norms. The quality and food safety management systems at this unit ensure production of high quality botanical extracts at competitive prices. To ensure no slippage in manufacturing, the unit employs a very competitive staff.
Notes to Editor
About Department of AYUSH
Department of Indian Systems of Medicine and Homoeopathy (ISM&H) was created in March,1995 and re-named as Department of Ayurveda, Yoga & Naturopathy, Unani, Siddha and Homoeopathy (AYUSH) in November, 2003 with a view to providing focused attention to development of Education & Research in Ayurveda, Yoga & Naturopathy, Unani, Siddha and Homoeopathy systems. The Department continued to lay emphasis on upgradation of AYUSH educational standards, quality control and standardization of drugs, improving the availability of medicinal plant material, research and development and awareness generation about the efficacy of the systems domestically and internationally.
http://indianmedicine.nic.in
About Avesthagen Limited
AVESTHAGEN LIMITED (www.avesthagen.com) is India’s leading integrated systems biology platform company that focuses on achieving convergence of food, pharma and population genetics leading to predictive preventive and personalized healthcare. It employs 600 people worldwide and is headquartered in Bangalore. Avesthagen Limited has established world class, state-of-the-art laboratory facilities in Bangalore. It began business operations in 2001.Since its inception Avesthagen has grown into one of India's leading healthcare technology group in India, and its activities include, in addition to its agri-biotechnologies product pipeline, development of clinically validated botanical bioActives, derived from Indian medicinal plants, as well as the development of a pipeline of bio-similar drugs. Avesthagen Limited has four strategic business units: bioPharmaceuticals, bioNutrition, bioAgriculture and Science & Innovation. Its partners include multiple top 10 global companies in each of its fields of research. Avesthagen Limited collaborates at every stage in the value chain with appropriate partners, both public and private, for access to and exchange of technology and overall commercial expertise to leverage the ‘India advantage’.
Disclaimer
Avesthagen Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, a public issue of its equity shares and to file a Draft Red Herring Prospectus with SEBI. This announcement does not constitute an offer of equity shares for sale in any jurisdiction, including the United States of America, and any equity shares of the Company may not be offered or sold in the United States absent registration under the United States Securities Act of 1933, as amended, or pursuant to an exemption from registration