Elder Healthcare, an associated company of Elder Pharmaceuticals, will soon sign an inlicensing agreement with the Thailand-based herbal drug and personal care products manufacturer FCP Company to launch its products in India.
To start with, Elder Healthcare plans to launch three skin care products of FCP in the Indian market. FCP, one of the prominent herbal personal care manufacturers in Thailand with about $50 million (Rs 204 crore) turnover, has popular skin care products in the local market like 'Refer' brand for cracked heels and tough spot creams, 'B-Sure' women skin care creams, 'Clearasoft' gels and foams for acne and face cleaning, and 'Symphony' brand dietary supplements for skin and beauty care.
"Initially, we will market three of their skin care products in India. Elder will bring more products from the FCP basket depending on the success of these products in the Indian market," said Dr Anuj Saxena, managing director, Elder Healthcare.
The skin care market in India is estimated at about Rs 2,200 crore (Rs 22 billion)
and is growing at ten per cent per annum. The Indian market is dominated by fairness creams and beauty care products, led by Fair and Lovely of Hindustan Lever. Herbal skin care products constitute about 30 per cent of the market and Ayurvedic companies like Himalaya and Dabur have a good share of this market, said sources.
Elder's fairness cream brand 'Fair One' recorded sales of Rs 35 crore (Rs 350 million) within 18 months of the launch. The company is planning to launch more beauty care products under the 'Fair One' brand and has already launched a herbal soap, said Anuj Saxena.
He said the Elder Group plans to inlicense and launch about six to eight products in the near future in the Indian market in the field of cosmaceuticals, dermatology, osteoarthritis and wound management. The company is in talks with manufacturers in Europe and the US to inlicense products in the Indian market.