(2004.02.05)
The Indian biotech company Avesthagen has established a Nordic Office in Copenhagen. Avesthagen chose Copenhagen because of the good opportunities for finding development partners in the region. Villoo Patell, general manager of Avesthagen, says Indian pharmaceutical companies traditionally have focused on making quick money on generics and have therefore fostered a generics culture, however without focusing on development.
Villoo Patell anticipates that several Indian biotech companies will be attracted to Copenhagen and Medicon Valley particularly because of the high concentration of pharmaceutical and biotech companies in the area. The news is reported by Copenhagen Capacity online.
Avesthagen is headquartered in Bangalore, India, and employs 90 people. It is a fully-integrated biotech and bioinformatics company, focusing on the convergence between food, pharma and clinical genomics for making preventive medicine.