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Germany-based Humana Milchunion eG, one of the largest baby food products and therapeutic multivitamins manufacturers, will soon foray into
Humana belongs to the Humana Milchunion group of firms in
Humana plans to open over 200 multivitamin and baby food stores within 2-3 years in
The company, with a turnover of $5 billion, belongs to the Humana Milchunion group of companies, a dairy cooperative with more than 6,000 milk suppliers in
Its therapeutic and baby products such as food, water and instant cereals are sold in over 48 countries and enjoys a big brand equity in
The 58-year-old dairy major, based out of
"Humana will invest over �2 million (Rs 12.5 crore) initially in Magna-K-Labs and pick up about 50 per cent stake," said Satish Bhangar, managing director of the recently floated joint venture Magna-K-Labs.
Magna and K-Labs have signed a memorandum of understanding with Humana and plans to make
Initially, the JV will import about 60 products from
Each of the 1,000 -2,000 sq ft store under the Humana brand will cost Rs 1 crore. It will stock about 500 products from the Humana stable. About 20 stores were likely to come up within a year, said Bhangar.
"Many of their muti-vitamin products based on effervescent technology (when the tablet is put into water, it turns as an energy drink) are classified as drugs in
The joint venture will also mark the entry of cancer and critical care drug manufacturer K-Labs into the field of nutraceuticals and health products.
The JV will also make available the raw materials required for gene repair therapy (GRT), a nano tech-based treatment process for cancers and life threatening diseases, developed by K-Lab's group company Virtuos Innovations, according to its Chief Executive Officer V K Thripathi.
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