E.I.D.-Parry, which is strengthening its over-the-counter nutritional supplements business, will launch 10 products this year targeting specific areas of preventive healthcare.
Sajiv K. Menon, Business Head – Bio & Nutraceuticals, of the Murugappa Group company, said its recent launch of Green T6 capsules which offer green tea extracts in capsule form, is in line with its plans to aggressively target the OTC segment.
In the next few months, there will be three more variants of its Spirulina, the marine algae-based product, he said. This will support the growth of the division which earned Rs 43 crore in 2011-12.
Marine alga
The company is strengthening its marine alga production capacity with a new facility in Ramanathapuram district where it has 100 acres land. Involving investments of about Rs 15-20 crore, the project is awaiting statutory approval. “This will be a novel source of Omega 3 fatty acids, which is now primarily obtained from fish oil. Parry’s product will be a vegetarian source of Omega 3,” he said.
This facility will be in addition to its Spirulina and Dunaliella salina culture facilities.
Specific areas
The nutraceuticals division targets specific segments such as heart health, diabetes management, joint health, eye care and energy enhancement for which its products are developed.
For instance, its recent launch – Rejuveneyes – targets eye care for those who strain in front of computer monitors and televisions.
The company’s range includes Pro 9, a whey-based protein drink, Pro 9D, which contains fibre from fenugreek, known to have beneficial impact in managing diabetes. The fibre extract is obtained from the division’s own facility in Cuddalore. It also has a lycopene-extracting unit in Maharashtra.
The division has built a 15,000 strong network of retail outlets and is now concentrating on building an online sales platform.
E.I.D.-Parry’s US subsidiary, Valensa International, a boutique manufacturer of plant-based nutritional supplements, will strengthen the nutraceutical portfolio with its offering targeting eye and joint health.
This will help open out markets and mutually benefit the parent and subsidiary company, he said.