Ann: First $A8M sales month and $A9M revenue month, page-80

Mmm….question is, is this legit?

Firstly, IndiaMART seems to be a strange place to be selling Novosorb BTM.

Novo Nordisk has recently been pressuring IndiaMART to remove illegal listings of its blockbuster weightloss drug, Wegovy, from the IndiaMART website, making it clear that the (many) sellers do not hold the trademark.

A leading US Government Agency listed IndiaMART in its 2022 Review of Notorious Markets for Counterfeiting and Piracy, stating

…counterfeit goods on IndiaMART, including pharmaceuticals, electronics, and apparel, remain a serious concern for other right holders. They dispute that IndiaMART has adequately engaged with right holders and implemented anti-counterfeiting best practices, including seller verification, penalties against known sellers of counterfeit goods, or proactive monitoring for infringing goods. They also question claims made by IndiaMART regarding the responsiveness of its notice-and-takedown system.

I note from the IndiaMART ad that it is the 5 x 5cm device being sold and the seller is listed as Medisurge Inc. - a Famous Wholesaler, Trader And Exporter of a Surgical Implants, Silicone Scar Sheet and much more.

The owner of Medisurge Inc. is listed as Vinish Mathur. It is a small company, founded in 2011, with claimed annual turnover of ~ US$130,000 - $260,000. Vinish Mathur also claims to be a sales Manager at Myovatec since 1990. Medisurge’s self-description and photo of its “infrastructure” is not confidence-inspiring.



PolyNovo first entered India in 2018, using Myovatec as distributor. Myovatec’s website suggests that it still sells Novosorb BTM in all sizes. Myovatec was founded by Adesh Mathur in 1986. Prateek Mathur is named as an Executive Director.

So, perhaps Vinish Mathur is part of the family group that controls Myovatec. Perhaps Medisurge is a subsidiary company of Myovatec, although I can find no evidence of this. Even if this is the case, the sale of BTM on IndiaMART seems irregular to me.

https://www.reuters.com/business/he...-halt-illegal-wegovy-sales-source-2023-12-18/

https://www.myovatec.com/products/polynovo-btm-wound-dressing/