aussi disponible en français
February 29, 2012
For immediate release
OmniActive Health Technologies sets up its new International Research Centre in Prince Edward Island, Canada - Becomes the First Indian Company to Expand Footprint into the Island
The set-up of this advanced facility at the Biocommons Research Park in Charlottetown, opens up an exciting world of opportunities for OmniActive by utilizing this advanced facility to develop new products and technology for their customers. OmniActive has a subsidiary in Morristown, New Jersey, USA and an international distribution network which covers Europe, Asia and South America.
Prince Edward Island offers highly competitive business costs for investor companies, a positive tax environment, labour rebates, ease of transition in terms of superior infrastructure and excellent business environment for a strong agri-food sector. PEI also has a highly skilled and educated labour pool, strategic infrastructure and convenient access to major markets for businesses.
On elaborating why PEI was chosen when it came to overseas investment, Mr. Sanjaya Mariwala, Managing Director, OmniActive Health Technologies said, “PEI provides a supportive business environment with an excellent base for innovative and collaborative research. Therefore it was a good fit for our first overseas R&D centre, with close proximity to North America and European markets. We are confident this partnership will help us achieve our broader corporate objective of delivering innovative products based on solid scientific research to our customers.”
Speaking on this occasion, the Premier of Prince Edward Island, Robert Ghiz said, “Prince Edward Island offers the ability to think big and act fast through the opportunities we can offer in assisting businesses to grow and prosper. The relationship with OmniActive is evidence to this, how we are working to promote investments in our innovative thinking, our people and our infrastructure.”
The bioscience sector is witnessing an increased popularity due to its economic promise and also its potential to create new products and markets. Currently the Indian nutraceuticals industry is valued at Rs.47 billion and is expected to reach Rs.95 billion in 2013. Globally, the nutraceutical industry is growing at 18% (CAGR) to which India’s contribution is at 0.9%.
About OmniActive Health Technologies
OmniActive Health Technologies, supplies a range of proprietary active ingredients and advanced delivery platforms for ingredients used in healthcare, food, and personal care applications. The company’s flagship offering is its Lutemax® Free Lutein/Lutein Esters — the world’s first complete source of both Free Lutein and Lutein Esters, Lutemax 2020® with enhanced levels of Zeaxanthin & Capsimax™ range of products for food fortification and dietary supplementation. OmniActive’s vegetarian beadletting technology allows the seamless incorporation of lipophilic ingredients, such as Lutein into dry tablets and capsules.
OmniActive has a wholly owned US subsidiary OmniActive Health Technologies Inc. in Morristown NJ, and conducts operations from its manufacturing, R&D and corporate facilities at Pune, Mumbai, Thane and Cochin, India. OmniActive’s manufacturing facilities are certified for the quality and food safety management systems under ISO-22000(2005) and cGMP standards.
About Prince Edward Island, Canada
Prince Edward Island is situated off the eastern coast of Canada and within driving distance of New York City and Toronto. It offers low operating costs, access to markets, a positive tax environment and a highly educated and skilled workforce.
The University of Prince Edward Island conducts $615 million in R&D annually and its most significant cluster is in biomaterials.
Prince Edward Island has the crucial ingredients for a strong agri-food sector, including a clean environment, temperate climate and an abundance of agricultural and marine resources. It is well known for its safe, high-quality good products and commitment to food safety and innovation.
To view the news release in Hindi, please click here.
To view the news release in Marathi, please click here.