Category Archives: Business

Dr. Reddy’s and Pharmazz, Inc. enter into licensing agreement to market first-in-class Centhaquine (Lyfaquin®)

Hyderabad, India; 27th March 2024 –Dr. Reddy’s Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: RDY, NSEIFSC: DRREDDY; hereafter referred to as “Dr Reddy’s”), a global pharmaceutical company, has entered into a license agreement with Pharmazz, Inc. (“Pharma”), a U.S. based biopharmaceutical company developing and commercialising drug products to treat critically ill patients, to commercialise the first-in-class innovative drug Centhaquine in India. Developed by Pharmazz, Centhaquine is a resuscitative agent presently indicated for the treatment of hypovolemic shock by the drug Controller General of India (DCGI).

As per the agreement, Dr Reddy has received exclusive rights to market and distribute Centhaquine in India. Pharmazz will be entitled to upfront payments and royalties. Dr. Reddy’s will market the product under the brand name Lyfaquin®, which it shall own. In addition to India, Dr. Reddy also receives marketing rights for Lyfaquin® from Pharmazzfor Nepal.

M.V. Ramana, Chief Executive Officer, Branded Markets (India and Emerging Markets), Dr. Reddy’s, said: “The partnership with Pharmazz and launch of this first-in-class drug marks the latest in our effort to enter into strategic collaborations to bring novel molecules to India to meet genuine unmet patient needs. The clinical studies for Lyfaquin® have demonstrated significantly better and promising outcomes, making it as a potential add-on drug in the management of hypovolemic shock and enhancing the current standard of care for its treatment in India.”

Dr. Prof. Anil Gulati, M.D., Ph.D., inventor, CEO, and Chairman of the Board of Directors of Pharmazz, said: “India’s emergence as a hub for developing and introducing innovative medicines is a remarkable achievement. It reflects the country’s growing capabilities in research and development within the pharmaceutical sector. It is a large step for Pharmazz to partner with Dr. Reddy’s, a leading global pharmaceutical company from India. For patients with hypovolemic shock, I believe Dr. Reddy’s is the best partner for Pharmazz to market Centhaquine, an innovative, first-in-class novel resuscitative agent, in India.”

Hypovolemic shock is a life-threatening and often fatal condition. Severe loss of blood or fluids due to traumatic haemorrhage, postpartum haemorrhage, gastrointestinal bleeding, post-surgical bleeding, diarrhoea or vomiting can cause hypovolemic shock, which may lead to multi-organ failure and death. India has a high prevalence of these conditions and high mortality due to these conditions. Data from various Indian studies and registries suggests a mortality rate of around 10 to 15% in traumatic haemorrhages despite the existing standard of care. This suggests a need for a novel resuscitative agent which can improve the existing standard of care.

Elevate Your Haircare Game With Suroskie’s Newly Launched Range of Hair Oils

Suroskie is thrilled to announce the expansion of its product line with the introduction of a range of hair oils. The company seeks to transform hair care by utilizing its knowledge of ingredients and advanced formulations. It is a combination of Ayurveda and science.

Suroskie is an Indian beauty and wellness brand offering luxurious products at affordable prices in the Indian market. These products are cruelty-free, clean, and chemical-free. They are curated considering market demands and concerns. Suroskie’s mission is simple yet powerful: to provide high-quality international skincare products to an Indian audience at accessible prices, ensuring that everyone can experience the luxury of premium skincare.

Range:

Champi Rituals – Hair Oil-

Suroskie’s natural hair oil is made from a variety of plant oils and can be used to nourish, protect, and condition hair. Examples of natural oils used in hair oils include Brahmi, coconut, Bhringraj, and almond oil. This helps to coat the hair with protective compounds, add shine, and lock in moisture. They also help to reduce frizz, add strength, and prevent breakage.

Dandruff Defence – Hair Oil –

Our dandruff defense oil has salicylic acid and olive oil to prevent dandruff. We also have fenugreek oil for lustering the hair, Brahmi oil for strengthening the hair, rosemary oil for improving blood circulation, peppermint oil for giving the natural shine, silkiness, smoothness, strength, length, & repair, and argan & amla oil for repairing damaged hair as split ends.

Bhumi NGO and MellowByBel Collaborate for an Artistic Cause

Chennai,27th March 2024: India – Bhumi NGO, in partnership with MellowByBel, is excited to announce the launch of the second edition of their Art Fundraiser Event. Scheduled to take place at Art Houz, Nungambakkam, Chennai, this event marks a pivotal moment in the city’s art and philanthropic calendar. The launch evening will kick off on 22nd March 2024, followed by an art sale from 23rd to 24th March 2024.

“We are happy to be associated with Bhumi NGO. Besides encouraging kids to express their creativity and talent, they greatly benefit from feeling included in making a tangible difference in the lives of the underprivileged. At the same time, it also instills a sense of social responsibility and the importance of coming together to make a difference as a society.” – Ms Belinda Sneha, MellowByBel

This event is more than an art exhibition; it’s a celebration of creativity, talent, and the generous spirit of the Chennai community. Bhumi NGO and MellowByBel invite art enthusiasts, philanthropists, and the general public to join hands in supporting a noble cause. The event will showcase the remarkable artworks of MellowByBel’s children and feature unique pieces by talented independent artists from across the city.

Event Details:

Launch Evening: 22nd March 2024, Friday

Art Sale Dates: 23rd – 24th March 2024, Saturday and Sunday

Venue: Art Houz, Nungambakkam, Chennai

The Art Fundraiser Event aims to raise funds for Bhumi’s programs, which are dedicated to providing education and whole-school transformation for less privileged children. By attending the event and purchasing art, participants will not only acquire beautiful masterpieces but also contribute to the future of countless children, offering them opportunities for a brighter tomorrow. “Art possesses the power to connect hearts and minds, transcending barriers to create a community that supports and uplifts one another. This event is a testament to the boundless creativity of young artists and the collective impact we can achieve through compassion and generosity.”- Shilpa Mishra- Director-Fundraising, Bhumi

Winners of HDFC Parivartan Startup Grants announced

Bhubaneswar: AIC-Nalanda, a leading technology business incubator, announced the winners of its cohort of HDFC Parivartan Startup Grants. This grant is dedicated to supporting startups with a focus on “Building Green Solutions for Smart Cities,” marking a significant stride toward sustainable development and innovation.

After a rigorous selection process, AIC-Nalanda chose the top 10 startups from among 70 applications to participate in the Parivartan Cohort 1.0 program. This program featured a comprehensive 2-week, 10-session Capacity-Building initiative called the S.I.G.M.A. Startup Accelerator Program in March 2024. Notably, the program witnessed the active participation of 10 mentors and esteemed investors from prominent venture capitalist firms such as Social Alpha, Inflection Point Ventures, and Fluid Ventures.

The culmination of this initiative was marked by the highly anticipated Winner Announcement Day, where four outstanding startups from the cohort were felicitated. Recycle Pay, Arc Robotics, Padverse, and Coco Boards emerged as the winners to receive the monetary grants.

Commenting on this achievement, Mr. Durga Prasad, CEO of AIC-Nalanda, expressed his excitement about the recent developments and emphasized the significant impact these supported startups would create in the sustainability sector. He highlighted the invaluable handholding support provided by the incubator along with the generous grants from corporates, paving the way for groundbreaking innovations.

On this occasion, Mr Nikhil Patra, Deputy Vice President, HDFC Bank said that, “We are delighted to collaborate with AIC-Nalanda to provide CSR grant to startups of the state. Through our CSR initiative Parivartan we are continuously helping startups through grants. We are in seventh years of our journey in Odisha and this time four startups are selected to whom we have provided Rs 30 lakh grant. Our focus areas are Agriculture, Technology, Artificial intelligence and others.”

HDFC Parivartan, a comprehensive corporate social responsibility (CSR) initiative by HDFC Bank, aims to foster sustainable economic and social development in India. Through thematic areas such as education, healthcare, livelihood enhancement, and environmental sustainability. HDFC Parivartan empowers communities and drives inclusive growth. With a focus on innovation, collaboration, and impact, HDFC Parivartan plays a pivotal role in driving meaningful transformation and creating a brighter future for all.

Woodenstreet Expands – Launch of a New Light Street Store in Mumbai

Mumbai, 27th March 2024  WoodenStreet, India’s leading home furniture, décor, and furnishing brand, expands its footprint with the opening of a new store of Light Street, the lighting arm of WoodenStreet, in Mumbai. Through this move, they are advancing another leg of their rapid expansion strategy, which includes opening of 50 additional stores in over the next 18-24 months in metropolitan cities of Bangalore, Delhi, Gurgaon, Mumbai, Pune, Kolkata, Hyderabad, Jaipur, etc.

The second retail store of Light Street in Mumbai after the first successful launch in Jaipur, bringing in lighting solutions to fulfill customers’ diverse needs. The store houses a variety of lighting fixtures like table lamps, chandeliers, pendants, etc. to perfectly suit to the aesthetic wants and needs.

The new launch spanning across an area of 2500-3000 sq. ftis located at the prime location of the city, Andheri East. With this new launch, the company will be providing customers with more space to explore the premium lighting solutions under one roof.

“We are working extensively on our plans to magnify the reach of our products across nooks and corners of the country. This new store opening is dedicated to our commitment to providing customers with an unparalleled shopping experience and access to the latest lighting trends and designs,” said LokendraRanawat, CEO of WoodenStreet.

The company’s expansion is fuelled by its vision of being a leader in the lighting industry. With a projected revenue target of Rs 100-150 crore from the new in-house launch, the company aims to strengthen its market position.

Light Street by WoodenStreet is committed to providing customers with an exceptional shopping experience, combining high-quality products under affordable price tags. The brand’s expansion plans conclude in fulfilling the evolving needs of customers and at the same time, establishing a strong presence across India.

Vacatia Hires Soraya Gonzales López as Director of Operations

San Francisco, CA, March 25, 2024 — Vacatia Inc., a leading provider of innovative customer-centric solutions for timeshare resorts, has announced the hiring of Soraya Gonzales López as director of operations.

In her new position, Gonzales López will oversee three critical areas for Vacatia: customer care, inventory management, and owner account management. It’s a role perfectly suited for the industry veteran, who spent 34 years with Interval International, most recently as the timeshare exchange company’s assistant vice president of resort assistance.

“We have always prided ourselves on being a hospitality-first company,” said Caroline Shin, Vacatia’s CEO. “As we’ve grown over the past few years, that commitment to owner satisfaction has only strengthened, and I can’t think of a better person than Soraya to lead in these key areas. She has spent the better part of a storied career delivering world-class service to timeshare owners and resorts. We’re thrilled to leverage her deep well of knowledge and her customer-centric approach.”

At Interval, Gonzales López and her team provided service to the company’s entire network of affiliated properties, but the smaller independents were particularly special to her.

“These resorts came first,” she said. “They’re often in great destinations where the big brands don’t build. They possess a lot of charm and offer great value. And there’s a real connection that the resort staff and owners have to these resorts. I really appreciated that connection during my time at Interval, and I’m encouraged to see that the Vacatia team honors it. We will be laser-focused on delivering the elevated experience that these owner communities deserve.”

To achieve that, Gonzales López understands just how crucial it is for the Vacatia team to be in lockstep with each on-site staff, describing them as “industry heroes who deliver the service that keeps owners, exchangers, and renters coming back year after year.”

“Having worked for years with resort teams of varying sizes and different needs,” she noted, “I know too well that a one-size-fits-all approach does not work. Developing close relationships with the resort teams helps us understand the unique needs of each property and its owners.”

Starting fresh after 34 years is no small task, but Gonzales López is embracing what’s next.

“I look around and I see a talented group from diverse professional backgrounds,” she said. “I share the Vacatia team’s passion for these resorts and their owners. And I am excited for this opportunity with a company that has an extremely bright future.”

Vacatia provides hospitality-first management services to 80,000 timeshare owners nationwide. Its products drive owner engagement, improve cash flow, attract new members, and finance needed property renovations. The company also has more than 750 industry partners, including some of the largest timeshare associations that rely on it for rental and resale services. To learn more about Vacatia’s rental, resale, and property management services, as well as its subscription membership product,

Promoting Tribal Energy Sovereignty

Colusa, CA, March 25, 2024 –Colusa Indian Energy (CIE) is a Tribal corporation owned wholly by the Colusa Indian Community (CICC) in northern California. CIE provides energy infrastructure assistance to other Tribes and has built strategic partnerships to provide the services needed with gas and diesel engine manufacturers, green and blue hydrogen producers, natural gas developers, solar PV developers, emission control system manufacturers, chiller manufacturers, industrial control system makers, and battery storage suppliers.

Navajo Power is a private, majority Native-owned clean energy developer that partners with Tribes to develop utility-scale clean energy projects. With their technical expertise, proven success in clean energy development and financing, cultural and linguistic aptitude and access to capital, they are able to work on projects across Indian County. “This partnership increases the visibility of Native-led businesses that bring innovative solutions to the energy sector. We are putting our unique stamp on an industry that has historically been absent of our voices, which ensures that our collective communities are represented and heard,” said Navajo Power Chief Executive Officer Brett Isaac.

The partnership between CIE and Navajo Power promotes Tribal energy sovereignty. “We want to partner with Tribal and Native-owned businesses to help energize all of Indian County. Navajo Power is the best solar developer for us to partner with, because they share our mission and perfectly complement the rest of our offerings,” said Colusa Indian Energy Director Ken Ahmann.

CIE and Navajo Power share the vision of supporting Tribal Energy Sovereignty for all of Indian County.

Benchmark International Facilitated the Transaction Between JHT and Precise Systems

Orlando, FL, March 24, 2024 –Benchmark International has successfully facilitated the transaction between Orlando, FL-based Jardon & Howard Technologies (JHT) and Lexington Park, MD-based Precise Systems (Precise). JHT offers training and simulation solutions, technical documentation, and professional staffing support. The company provides practical operational & maintenance training solutions to the US military and numerous federal, state, and local government agencies.

JHT’s proprietary simulation system, proxSIMity Advanced Touch System, is a 2D and 3D training library available on touch-screen devices. The company developed the training system in partnership with the US government under the Small Business Innovation Research (SBIR) program.

Precise Systems, a solutions-driven company, is strongly committed to supporting the warfighter’s needs through innovation and expert consultation. It leverages its highly skilled workforce to provide top-notch service, focusing on various aspects of defense systems, including network and weapons systems acquisition, maintenance, modernization, and sustainment programs. The company’s expertise spans Digital Transformation, Advanced Engineering, Physical Sciences Research, Platform Lifecycle Support, and Technical Services, ensuring comprehensive support for defense programs at every stage of their lifecycle.

“This acquisition significantly enhances our capabilities across several high-priority clients and accelerates our strategy to expand into new markets. JHT and Precise make an extremely powerful combination, and our combined capabilities allow us to scale for a promising future.” -Scott Pfister, President and CEO of Precise

“Jardon & Howard is a top-tier science and technology firm in the government space and a true innovator in the simulation sector. Precise Systems is a leader in defense training services for federal government clients and a perfect match from an opportunity perspective. Our client could not have found a more knowledgeable fit from a middle-market private equity perspective than Precise’s financial backer, Bluestone Investment Partners.” –Senior Transaction Director William Sullivan, Benchmark International

New Company Facility Fee LLC Helps Utah Businesses

Salt Lake City, UT, March 25, 2024 — Daniel Darger and Kraig Raines, residents of Salt Lake City, Utah founded Facility Fee LLC in early 2024 to help Utah businesses implement a tax provision that exempts sales tax on the facility expense if the business can separate the revenue received for the product from what it pays for the facility from which the product is sold.

Locally owned and operated businesses are the foundation of every community and should utilize every tax advantage possible and the facility tax provision could save Utah retail businesses thousands of dollars every month. These businesses including restaurants, reception centers, retail, salons, and recreation facilities are the most vulnerable with acute exposure to market shifts, pandemics, weather, and costs of goods and labor.

Darger is no stranger to the challenges of retail enterprise. Long-time operator of two of downtown Salt Lake’s legacy entertainment and dining destinations, the Dead Goat Saloon (1998-2004) and Blue Iguana restaurant (1998-2014), he learned some valuable facts about Utah tax law and subsequently increased his hard-earned margins with a minimal restructuring of his bookkeeping and tax filing.

As a career corporate and criminal attorney, he wasn’t willing to be shifty in the eyes of any law, tax, or otherwise. He vetted the sound guidance of events coordinators at the Salt Palace in renting portions as well as the entire space of both the Dead Goat Saloon and Blue Iguana restaurant to Outdoor Retailer convention exhibitors such as Jan Sport and Canoe & Kayak magazine. Once familiar with the mechanics of separating facility fees from food and service, his tax burden was significantly reduced.

Now retired, Darger was commiserating with a friend who operates a restaurant and the two began discussing the Facility Fee tax law and after thorough checking, found the law to be the same. Darger asked for a revenue ruling regarding the sale of food in conjunction with the sale of a space to eat it and learned that applying the Facility Fee concept to the day-to-day running of a restaurant is consistent with Utah tax law.

Darger says, “Since I helped my restaurant-operating friends adopt the Facility Fee, they report reducing their sales tax obligations by thousands of dollars a month,” and continues, “It seems to me that business operators that rent a facility for use in operating that business owe it to investors and themselves to take advantage of every legal tax exemption available and the Facility Fee is one of them.”

Raines says, “We see that the Facility Fee tax law applies to most retail businesses, so we founded Facility Fee LLC to guide Utah businesses through the process. Businesses who implement this provision will save thousands of dollars that otherwise would be paid in taxes,” concludes Raines.

ETG ECO GREEN PACKAGING MANUFACTURING LLC Launches-100 Percent Plastic-Free,Compostable Bottles & cutlery.

25th March 2024, Dubai, UAE – ETG ECO GREN a pioneer in sustainable technology, marked its first anniversary with the launch of an innovative, 100% compostable & eco-friendly product that is set to redefine environmental responsibility in the consumer sector. The company unveiled its groundbreaking 100% plastic-free and compostable bottles & cutlery, a testament to ETG’s unwavering commitment to combating plastic pollution and fostering a sustainable future.

Founded in the UAE, ETG has rapidly expanded its influence across three continents, leading the way in integrating cutting-edge technology with ecological mindfulness. The company’s latest product exemplifies this ethos, offering a viable, eco-conscious alternative to traditional plastic bottles.

Kishore Kumar Reddy, Co-Founder & CEO, Shoukath Ali & Tariq Badshah of ETG, stated, “Our journey began with a clear vision – to eradicate plastic from our daily lives. Today, we take a significant leap towards that goal with our compostable water bottles. These bottles aren’t just products; they’re a bold statement against environmental degradation. They symbolize our pledge to nurture our planet and lead the charge towards a greener, more sustainable future.”

ETG’s innovative approach intertwines the latest technology with ecological responsibility. The compostable bottles represent a major stride in reducing plastic waste and encouraging an eco-friendly lifestyle. Made entirely from plant-based materials, these bottles decompose naturally, leaving no harmful residue, thus offering a guilt-free, environmentally sound hydration solution.

The launch was celebrated at a gala event, attended by industry leaders, environmental advocates, and esteemed guests including the General Counsellor of the Republic of Rwanda, Mr. Edouard Bizumuremyi. The event underscored ETG’s rapid growth and its commitment to sustainable practices.

“Our vision extends beyond business achievements. It’s about creating a sustainable future for our planet,” Reddy added. “This product launch is not just a milestone for ETG but a step towards a collective, eco-friendly future. We’re proud to lead this movement and invite everyone to join us in this essential, planet-nurturing journey.”

As ETG continues its journey, it remains dedicated to innovation and the development of products that resonate with its core mission of environmental stewardship. The 100% compostable bottles are just the beginning of a series of sustainable initiatives planned by the company.