Sun Pharmaceuticals, Alkem Laboratories and Ochoa Laboratories have signed contracts with the Geneva-based Horphag Research to source a high value nutraceutical ingredient, Pycnogenol. The move comes amid a growing demand for nutraceuticals and dietary supplements in the country.
Pycnogenol , a scarce natural substance extracted from the bark of French maritime pine tree, is will be used by these companies for their latest dietary supplement formulations being introduced in the country.
Horphag Research is expected to export 1,000 kg of Pycnogenol to India in the first year. Pycnogenol, a well established natural anti-oxidant in the Europe and the US, is currently priced at Euro 2000 a kg in the international market.
This natural anti-oxidant lowers blood pressure and helps to seal capillaries and prevents swelling of viens enabling them to relax. It also acts like a sun-screen and quickens wound healing.
Horphag, a Swiss company with revenues of euro 300 million, signed the contracts recently. Hector Bandelier, director (sales) of Horphag, said the company foresees a high potential and fast growing market in India as the concept of nutraceuticals and dietary supplements is fast catching up with the local populace.
The company, which is currently concentrating on this single product as the only producer and supplier in the world, would stick to these three clients in India.
The Indian demand for this natural supplement is bound to grow substantially in the coming years as Sun Pharma's two recently launched brands- Paleno (a cardiocare product with vitamin A and C along with Pycnogenol) and Gloeye (an eyecare supplement) as well as Alkem's Maxxio ( a diabetes plus cardio protection) are gaining tremendous market response in the domestic front.
In addition, three new products with Pycnogenol as main ingredient are to be launched by the end of this year in the country.
While Alkem is planning yet another multivitamin product -- A to Z, in tablet, capsule and syrup forms, the New Delhi-based Ochoa Laboratories is planning to launch two products- Pycnoderm (a skincare product for external application) and Skivit (an oral skincare product) shortly.
Sources from Sun Pharmaceuticals said the company was bullish on the dietary supplement market in India. "As Sun launched pycnogenol-based products only a couple of months ago, it is yet to get the exact market data," the source added.
