Avesthagen Limited, India's leading life sciences company that focuses on pharma and population genetics leading to predictive, preventive, personalized healthcare has been granted a licence 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 licence will help Avesthagen to tap into the huge Indian ayurvedic market and the growing global market of ayruvedic products.
Dr. Villoo Morawala Patell, Founder & CMD of Avesthagen 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 popularise 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's bioactive manufacturing unit, Dhanvantari Botanicals Pvt. Ltd., located near Bangalore is an ISO 9001:2000 certified unit.