Union Budget 2021: Govt should invest in clinical trials, enable policies to empower pharma sector With poor historical spends on healthcare, there is an urgent need to raise the allocation substantially for health as a proportion of GDP FP Staff January 30, 2021 06:22:20 IST Image courtesy State Public Health Laboratory in Exton Tests for COVID-19 by Governor Tom Wolfe
In the wake of the pandemic that struck in 2020 paralysing businesses and lives of people, the expectations from Budget 2021 centre around the allocation of higher spending towards healthcare. The pandemic brought home the need for a strong healthcare infrastructure to ensure a sustainable economy. Experts in the sector, pharmaceutical firms and startups share their expectations from Budget 2021 with
Synopsis
The nutraceutical industry, which is at its nascent stage, offers significant socio-economic benefits with promising double-digit growth opportunities. At the end of 2019, the global nutraceutical industry was valued at $382 billion, and India at $5 billion.
Kolkata: The Biodiversity Act 2002, which attracts access and benefit sharing and imposes multiple taxes is limiting the growth of the nutraceuticals sector and farmers, feels the industry executives.
“The Act discourages the end consumers of these ingredients such as nutraceutical companies to opt for backward integration. There is no incentive to even enter the contract farming that can support and uplift the farmers. This effort by the industry requires a commitment to investing in building agriculture capability, but BDA taxes all such effort disincentivizing the industry in investing here,” said Sanjaya Mariwala, executive chairman and managing director, OmniActive Health Technologies, and founder-president
OmniActive Co-founder Exits Following Company Valuation Upwards of $250 million
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Hiren Doshi, Co-founder, OmniActive Health Technologies
Hiren’s leadership of our global business development effort was outstanding. MORRISTOWN, N.J. (PRWEB) January 18, 2021 Leading global private equity firm TA Associates has announced the acquisition of a significant stake in Mumbai-based OmniActive Health Technologies. Co-founder Hiren Doshi along with other investors will exit.
Industry veteran Hiren Doshi played a pivotal role in establishing OmniActive’s dominant presence in the global supply marketplace. He has been co-founder, President and Board Member since 2004 and helped take the company from concept to a global enterprise with nearly 500 employees. As part of the TA transaction, Doshi formally exits OmniActive and sells his shares.
OmniActive Health Technologies Announces Strategic Investment from TA Associates to Accelerate Global Growth
Tuesday, January 12, 2021 11:00AM IST (5:30AM GMT)
Morristown, N.J., United States & Mumbai, Maharashtra, India:
OmniActive Health Technologies (“OmniActive” or “the Company”), which offers a wide range of premium, scientifically-validated, natural nutraceutical ingredients, today announced that TA Associates, a leading global growth private equity firm, has acquired a significant stake in the Company, while Founder and Executive Chairman Sanjaya Mariwala has further increased his personal holding. Financial terms of the transaction were not disclosed.
Established in 2005, OmniActive seeks to improve lives by enhancing nutrition and wellness through science and innovation. A leader in health solutions, the Company offers a range of premium natural ingredients that are innovative and scientif
PE fund TA Associates acquires OmniActive Health
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The fund will invest about $150 million to acquire about 60% stake in the company, ET first reported in November. The deal, expected to value the company at $250 million, will see the exit of existing investor Everstone Capital and a handful of HNIs. Everstone held about 35% stake in the company.
Mumbai: Global private equity investor TA Associates has acquired a controlling stake in Mumbai-based nutraceutical ingredients player OmniActive Health Technologies Ltd.
TA Associates has acquired a significant stake in the company, while founder & executive chairman Sanjaya Mariwala has further increased his personal holding, the company said in a press statement today.