iNova
Pharmaceutical company
This company has had a number of ownership changes in recent years. In 2022 private equity firm TGP Capital took over ownership.

Overall

Owned USA
Rating F
About the Ratings

Company Ownership

iNova Pharmaceuticals (Australia) Pty Ltd
AUS
TPG Capital LP
owns 80% of iNova Pharmaceuticals (Australia) Pty Ltd
USA
Private equity firm
Formerly known as Texas Pacific Group. One of the world's largest private equity firms, with $127 billion of capital under management.
Pacific Equity Partners Pty Ltd
owns 20% of iNova Pharmaceuticals (Australia) Pty Ltd
AUS
Private equity firm
Current investments include Hoyts. Other interests include areas such as fast food, food, finance and vacuum cleaners.

Company Assessment

(Last updated Jul 2024)
iNova Pharmaceuticals (Australia) Pty Ltd
Praise
3/5 for packaging performance
This company received a packaging performance level of 3 (Advanced) in its 2024 APCO Annual Report. Australian Packaging Covenant Organisation (APCO) is a not-for-profit organisation leading the development of a circular economy for packaging in Australia. Each year, APCO Members are required to submit an APCO Annual Report and Action Plan, which includes an overall performance level from 1 (Getting Started) to 5 (Beyond Best Practice).
Source: APCO (2024)
Criticism
Palm oil rating - WAZA
The PalmOil Scan app, produced by the World Association of Zoos and Aquariums (WAZA), rates companies on their commitment to sourcing sustainable palm oil. Companies are scored on their use of certified sustainable palm oil (CSPO), commitment to sourcing CSPO, on-the-ground conservation action, and membership to the RSPO. Companies can earn a rating of Excellent, Good, Poor or No Commitment. This company is rated "No Commitment" (retrieved 18 Nov 2023).
Source: WAZA (2023)
Information
Breaching advertising codes
In 2012, 2011 and 2010 the Therapeutic Goods Administration's Complaints Resolution Panel upheld complaints about ads by this company on the grounds that they breached advertising codes. The Panel requested this company withdraw the ads and not to use representations in the ads again.
TPG Capital LP
Criticism
Involvement with Burma
This company appears on Burma Campaign UK's 'Dirty List' of companies assisting the Burmese military to continue to commit human rights violations and environmental destruction. TPG is the majority owner of Tower Holdings. Tower Holdings in turn owns two telecoms towers companies in Burma, Apollo Towers and Pan Asia Towers, both of which work for the military joint venture mobile phone network company Mytel.
0/20 in Social Benchmark
The 2024 Social Benchmark assesses the world's 2,000 most influential companies on their responsibility in meeting society's fundamental expectations towards three measurement areas: respecting human rights, providing decent work, and acting ethically. This company was assessed in 2022 and received a score of 0/20. The average score was an alarmingly low 4.6/20 and the highest score was 15.5/20.
2% in Financial System Benchmark
The 2022 Financial System Benchmark ranks 400 financial institutions across three measurement areas: governance and strategy, respecting planetary boundaries (environment, climate and biodiversity) and adhering to societal conventions (human rights). This company ranked #320/400, with a total score of 2/100.
Collusion lawsuit
In 2014, this company, together with other private equity firms Blackstone and KKR, agreed to pay US$325m to settle a lawsuit that accused seven private equity groups of conspiring to fix the prices of some of the world's biggest leveraged buyouts.
Information
Underpaid workers
TPG Capital LP neglected to pay its administrative assistants more than $9m in overtime according to a class action removed to the California federal court in December 2012.
Sustainability claims
This company has a number of sustainablity claims on its website.
OpenSecrets.org profile
OpenSecrets.org tracks the influence of money on U.S. politics, and how that money affects policy and citizens' lives. Follow link to see this company's record of political donations, lobbying, outside spending and more.

Company Details

Type:
Wholly-owned subsidiary

Contact Details

Address:
Level 10, 12 Help St, Chatswood, NSW, 2067, Australia
Freecall:
1800 630 056
Website:
www.inovapharma.com

Products / Brands

iNova
Dermaveen Skin Care
Dermaveen Shampoo
Difflam Cold & Flu
Difflam Lozenges
Glucodin Energy Drinks
Invisible Zinc Sunscreen
Kynd Vitamins
Nyal Cold & Flu
Nyal Lip Care
Reef Sunscreen
Salvital Digestive Care
Skin Basics Skin Care
Stop Itch Antiseptic