Veeda Clinical Research: A bridge too good

     Print Edition: Nov 14, 2010

STAR CEO (Small)

Veeda Clinical Research*
Person: Apurva Shah, Binoy Gardi
Turnover(2009-10): Rs 50 crore
PAT (2009-10): N.A.
Business: Clinical research
*This company is a client of YES Bank

In just five years, Apurva Shah (left) and Binoy Gardi have created a bridge between pharmaceutical giants in the West and India's expertise in carrying out clinical research. And not by claiming to be cheap. Shah, an MBA and Group Managing Director, points out that Veeda has made acquisitions abroad and 40 per cent of its people are based outside India. Veeda checks the safety and effectiveness of pharmaceuticals for human use. "The global demand is humongous," says Shah. A global footprint makes Veeda 25-30 per cent more cost effective than its global peers. In the last three years, Veeda has done four "first on man" studies and 12 Phase I trials. Shah and Gardi were spotted by Actis Private Equity in 2007. The same year, Shanghai-based Novamed Inc. forged an alliance with Veeda. The two will offer a platform to companies that lack a presence in India, China and South Africa.

-Rajiv Bhuva

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