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Ma Foi Strategic Consultants has acquired 17.5 per cent stake in the Coimbatore-based Oviya MedSafe, a start-up company that provides pharmacovigilance – a science that deals with adverse effects of medication – services. The value of the acquisition was not disclosed. The acquisition will help Ma Foi foray into the Rs 90,000-crore pharmaceutical industry The pharmacovigilance industry, is an emerging industry that supports the growth and safety practices across the globe, said K. Pandia Rajan, Managing Director, Ma Foi Strategy. Oviya MedSafe was founded by J Vijay Venkatraman, a diabetologist and drug safety physician. Venkatraman, Managing Director and CEO, said that globally, the pharma industry is under pressure as regulatory organisations in countries like the US have intensified their safety rules. The pharma industry will turn to pharmacovigilance experts like Oviya to provide them drug safety services, he told newspersons.
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