Philadelphia’s Drexel University alumnus Mihir Shah, and Matthew Campisi have created the iBreastExam scanner which is a hand-held device that enables health workers to perform breast health examinations in virtually any setting, not just hospitals. “Mammography isn’t feasible in India due to high equipment cost and the lack of radiologists,” says Shah.
iBreastExam uses patented ceramic sensors developed at Drexel University to detect subtle variations in breast tissue, and offers the following features:
- Bilateral breast exam within 5 minutes (with results at the point-of-care)
- Accuracy to detect clinically relevant breast lesions is higher than 85%
- Usable by any health-worker or doctor. No pain, No radiation
Forbes reports that the company UE Lifesciences Inc., with offices in both Mumbai and Philadelphia, will sell the product on a pay-per-use model instead of direct sales, which will enable doctors to immediately start offering private, safe and pain-free breast exams. Shah says he has kept the costs flexible; doctors at high-end private hospitals are charged in the range of $10-$15 per test, whereas village clinics will be charged only $1.
December 15, 2016 No Comments
Chicago, Illinois-based Abbott will set up an innovation and development center in Mumbai, India aimed at developing new drug formulations, new indications, dosing, packaging and other differentiated offerings to feed into its global branded generics business that clocked sales of $3.7 billion last year. The center will act as a “hub” and ship products to at least 30 countries that will further develop the products to suit local needs, reports the Economic Times.
Without divulging the amount the company will invest, Michael Warmuth, Executive VP, Established Pharmaceuticals division of Abbott said the proposed investments will double the company’s local scientific manpower. He described India as a “cornerstone of success” making specific reference as a “talent exporter” and how it helped Abbott gain a scientific edge in its other countries of operations.
Commenting on the overall regulatory and economic environment in India, Warmuth said the regulators are trying to do the right things but he maintained it would be good to see the environment a little more stable when making investment decisions. “Overall that does not really change our view on the market itself,” he added.
November 10, 2016 No Comments
Amazon.com Inc., and Netflix Inc., have contrasting approaches in the way they pursue growth in India and internationally.
Netflix debuted in India 10 months ago; however it does not believe in a physical presence in the various countries globally where it operates. This is because content making decisions are taken at its office in Los Angeles. The company depends on its user data to purchase programs that have multinational appeal, and does not depend heavily on local content in the regions it is present. Netflix’s chief executive Reed Hastings acknowledges that currently in India, Netflix caters to the elite, but “in the next couple years we will want to grow beyond that.”
Amazon has a different strategy. It’s Prime Video is available in select countries including India. Amazon Studios chief Roy Price visits Mumbai often, and scouts for locally appealing content for its video services. Price says, “You can have a global service, but there are no global customers. There are only local customers.” In Indian entertainment, for instance, “the musical aspect is super important, so you want to embrace that,” he added, reports the Wall Street Journal.
Amazon paid about $10,000 to potentially bid on rights for the popular Indian Premier League Cricket games too.
November 7, 2016 No Comments
The Singapore and India-based private equity firm Everstone Capital invested $33 million in contract research and drug delivery company Rubicon Research, in a bid to diversify its portfolio. Rubicon has a USFDA-approved manufacturing plant in Mumbai, and it provides solutions for bioavailability enhancement, gastric retention, taste masking, and customizing the release profiles of drugs. It also offers life cycle management services for pharmaceutical products.
“We welcome this partnership with Everstone and believe, with their deep managerial and operational expertise, capital infusion, and global connectivity, we will be able to significantly accelerate our growth,” said Pratibha Pilgaonkar, chief executive, Rubicon Research.
Founded by former Goldman Sachs executives, Sameer Sain and Atul Kapoor in 2006, the private equity firm has stepped up its deal making pace this calendar year, reports the Economic Times. Brooks Entwistle is a partner and Chief Executive Officer of The Everstone Group.
November 4, 2016 No Comments
Twitter is closing down its engineering operations out of Bangalore, India, and is laying off some 20 engineers in the process, the company confirmed to TechCrunch. The number is a very small percentage of its overall staff of 3,800 people internationally. The company will continue to operate three offices in the country, in Delhi, Mumbai and Bangalore.
India is one of Twitter’s fastest growing markets worldwide.”Twitter remains committed to India as a strategic market for users, partners and advertisers, a company spokesperson said. “We continue to invest in key initiatives to further expand our audience, increase user engagement and drive revenue in this important market,” she added.
September 27, 2016 No Comments