E.I.D.Parry launches health products
May 9th, 2011 - 11:51 pm ICT by IANSChennai, May 9 (IANS) City-based sugar major E.I.D. Parry (India) Ltd Monday said it was hoping to grow its nutraceutical division to around Rs.375 crore in three years by launching series of over-the-counter (OTC) health products.
“The company’s nutraceutical business currently generates around Rs.100 crore and this will go up to Rs.375 crore with the launch of around 25 OTC health supplement products,” Business Head (Bio and Nutraceuticals) Sajiv K. Menon told reporters here after launching two protein supplement drinks.
“We are targeting the 20-45 years male/female segment. The vanilla flavoured Pro9 is a combination of 21 vitamins and minerals with a blend of whey protein,” Menon said.
The chocolate-flavoured Pro9 D is sugar free, enriched with fenugreek soluble fibres and has 19 vitamins and minerals.
“The first year’s revenue target from the two variants is around Rs.45-Rs.50 crore,” he said.
The company will soon launch products for immunity, weight management, diabetes supplement and others.
“We will launch green tea next. The group has tea estates,” R. Ezhil Arasan, senior business advisor, told IANS.
For E.I.D. Parry, part of the diversified $3.8 billion Murugappa group, the nutraceutical business is mainly confined to the supply of raw materials - spirulina, carotenoids, lycopene, astaxanthin and beta-carotene extracts from micro algae - for manufacturers of dietary supplements within and outside India.
Three years ago, the company acquired US-based Valensa International a formulations company.
Menon said options of launching Valensa products in India are being explored.
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