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sava in news
The Hindu: 31 October 2011 (Avesthagen floats JV with Sava Medica to sell nutraceuticals)
BANGALORE: Biotech major Avesthagen has partnered with Sava Medica Ltd of Pune to float 50:50 joint venture subsidiary — Dhanvantari Botanicals — to market a range of nutraceuticals products in the US and BRIS (Brazil, Russia, India, and South Africa) countries. Through this joint venture, Avesthagen grants and Sava Medica earns marketing rights for Avesthagen's seven over-the-counter (OTC)-formulated tablet (including child-convenient dose such as fast-dissolving tablet), capsule and liquid forms for medical use. Dr Viloo Morawala-Patell, founder and CMD of Avesthagen Ltd, said, “The company so far has achieved convergence between food, pharma and population genetics. This transaction is part of our strategy to bring proprietary products, diagnostics, functional foods, and biological therapeutics focusing on metabolic disorders, cancer and neuro-degenerative disorders to consumers through partnerships.” “Under the terms of the deal, Avesthagen will receive upfront payments and a 15 per cent royalty on product net sales in the US and BRIS countries,” she added. Dhanvantari Botanical's products basket includes 11 OTC brands positioned for the wellness and nutraceutical markets. They are AmlaPure, Ashwagandha, BosWell, Gymnema, ThinkWell, Tribulus, Triphala, TriplaLax, WinterWell, XanoMax, and GojiMax and few qualified bulk ingredients.
Mr Vinod Jadhav, founder and Managing Director of Sava Medica, commenting on the deal said: “We at Sava Medica look forward to this strategic partnership to promote wellness and nutrition products in BRIS and the US. “With our strong sales and marketing force, and vital manufacturing and research capabilities in-built in our geosystem, we are now well-positioned to capture a significant share of the global healthcare market with such definitive value-added products.”
http://www.thehindubusinessline.com/companies/article2585643.ece
16th April 2011 (Sava Medica signs agreement to be a part of JB SEZ):
15th March 2011 (Economic Times, Ahemadabad Edition):
Sava Medica to Set Up Unit in JB SEZ
AHEMEDABAD: Sava Medica has signed a deal with JB SEZ, the pharma specific SEZ from the JB Mody group and HBS Realtors, to set up a manufacturing plant. The plant, which is a part of Sava's expansion plans, will cater to it's exports to North America, Russia and CIS countries. Currently, the company exports to more than 20 countries in Asia, Africa , Latin America add CIS. Offered on a sub-lease, the size of the land is roughly 10 acres. The plant will cater to about 60% of the company's turnover. Spread across 312 acres at Panoli, the JB SEZ offers small, medium and large parcels of land to various pharma companies.