First ‘pharmacovigilance’ center launched in India
Accenture and Bristol-Myers Squibb Company have together launched the pharmaceutical industry’s first ‘pharmacovigilance’ center, in Chennai, India, to monitor safety of data collected on medicines.
Pharmacovigilance entails the capture, assessment and reporting of potential side effects on medicines. The new center will undertake the processing and coding of adverse event data and the generation of regulatory periodic and aggregate reports on safety as well as physician medical review of adverse events.
The opening of the center, marks the first time a collaboration for ‘end-to-end’ safety case processing has been established. The center promises seamless handling of data and reports between Accenture and Bristol-Myers Squibb while not compromising patient safety.
The pharmacovigilance center, to be operated by more than 140 Accenture employees, is part of Accenture’s Life Sciences Centers of Excellence in Bangalore and Chennai that Bristol-Myers Squibb already utilizes.
SRIT forms a Joint Venture HealthCare ICT Company in China
Sobha Renaissance Information Technology (SRIT), a Bangalore based global software products and solutions provider, recently announced the setting up of a joint venture (JV) company in China called Sunpa Sobha Software (China) Ltd with ‘Yunnan Sunpa Image Tel Tech Co. Ltd (Sunpa)’ as its JV partner. Headquartered in Kunming, Sunpa Sobha Software (China) Ltd. will have operating branches in Beijing, Shanghai, Guangzhou, and Shenzhen.
This is SRIT’s first JV foray into the Chinese Market and possibly the first JV between the two countries in the realm of Healthcare ICT (Information & Communications Technology).
Sunpa is a world-class telemedicine ‘Products, Solutions and Services’ company that develops, integrates and produces a series of patented equipments & peripherals for Telemedicine, PACS and Tele-education. They ute key projects under the Chinese Government’s National Hi-tech Development Program, and are recipients of their Central Government’s second best award among the top-100 state-level prize-winning hi-tech projects.
Dr. Madhu Nambiar, Founder, MD & CEO SRIT has reportedly said that although the initial capitalization of the joint-venture is US$ 1 million, the joint-venture estimates increase of capitalization to US$20million in the next couple of years. .
Norwest will venture beyond IT to healthcare and retail in India
Kurt L Betcher, administrative partner and chief financial officer of Norwest Venture Partners (NVP), and his colleague and general partner Robert B Abbott were recently in India.
Betcher’s focus was on the logistics of setting up and running an office in India, while Abbott, was looking for investment opportunities in the country, beyond the realm of technology that NVP had so far restricted itself to.
Though the Palo Alto-based company’s presence has been felt in India since late 2003, with frequent visits and the occasional investment made by managing partner Promod Haque and general partner Vab Goel, the latest visit is significant. It indicates the continued commitment of VC firms like NVP to India and the opportunities they see in the country.
After pursuing only technology and technology-related companies