Delhi-based Generix Lifesciences has entered into an agreement with two Japanese firms to market four of their dietary supplements in India.
The Delhi-based firm has inked a pact with Kaneka Corporation and Hydride Ion Corporation (HIC) to market nutraceutical products, priced between Rs 1,295 for 15 capsules to Rs 5,595 for 60 capsules across various segments, including anti-ageing and glowing skin.
"Our focus is to promote unique and innovative products from all over the globe which are safe and backed by clinical research," Generix Lifesciences Director Ramesh Ranjan told reporters here.
Generix Lifesciences was incorporated in 2001 and is engaged in the sale of industrial raw materials to drug firms for manufacturing active pharmaceutical ingredients (APIs).
The company would import the products from Japan and then would repackage at a facility at Roorkee approved by Indian authorities.
"We have given the contract to Suraksha Pharma to repackage the products in their facility at Roorkee," he said.
The Delhi-based firm has formed a new division ''Genlife'' to market the nutraceutical products in the country and will market Kaneka Corporation''s four products and HIC''s one product in the country.
"The products would be first launched in the Delhi and NCR region followed by all the major cities in the country," Ranjan said, adding the supplements could be directly bought from the company.
He said the firm will also seek doctor’s help so that the products could be prescribed. Going ahead, the company plans to introduce more than 100 nutraceutical products in the country in the next five years.
"We aim to introduce more than 100 such products in the Indian market in the next five years," Genlife Director Sandeep Jha said.
The Indian nutraceutical supplement market is currently estimated at over USD 1 billion, including the unorganized sector, and is expected to touch USD 8 billion by 2011.
The global nutraceutical market is valued at over USD 124 billion and with 8 per cent growth rate is expected to cross USD 225 billion by 2020.