Corona Remedies Pvt Ltd on Monday announced a tie-up with Spain’s Medical Diagnostics Aragon (MDA) for the pan-India launch of the latter’s ‘Rehidrata-T’, an oral rehydration salt (ORS) formulation in gel form.
The Ahmedabad-based company, whose turnover is expected to increase from Rs 100 crore in 2012-13 to Rs 150 crore in the current fiscal, will import Rehidrata-T for exclusive marketing in India, where the ORS market size is about Rs 2,000 crore per annum with a CAGR of 10 per cent. “We are targeting a 10 per cent of this market in the first year,” said Nirav K. Mehta, Marketing Director, here.
Mainly a drug marketing company, Corona, which signed a 10-year exclusivity agreement with MDS in this regard, is banking upon Rehidrata-T’s hydrogel technology, recommended by the WHO. The shelf-life of this product is 24 months. The ORS sachet will be available in two palatable tastes priced at Rs 35 each as against the competition’s price range between Rs 27 and Rs 30 apiece.
MDS has a 25 per cent market share of Rehidrata-T in Spain, he said, adding the product is already available in over 30 countries.
Jose Ignacio, CEO of MDA, said Rehidrata-T has an edge over conventional solid ORS or that available in cartons. Its gel format permits it to be eaten in frozen form also, making it easily consumable by children and patients as a dessert or ice cream. This makes the intake of ORS easier and safer for chemotherapy patients with mouth sores and is also suitable for certain diabetics.
Corona is also looking to address bed-wetting among children and the elderly by marketing another product imported from MDA.
The company, which also has a manufacturing plant at Solan, Himachal Pradesh, plans to set up another plant at Changodar near Ahmedabad, where it has acquired land.
In April, Corona had launched Rasva in collaboration with Kitozyme, Belgium, to combat obesity-related problems.