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US-based biotechnology company Hysun Biomedical Inc has forayed into the Indian market. The company has also tied up with a local player Phyto Biotech to manufacture health supplements in India.
The company will start with manufacturing its diabetic supplement Suga Balanz in India, which it has launched in the country. Both the partners will be making initial investments worth $15 million. The two will manufacture and sell the product with an initial capacity of one million bottles. In a statement, Samuel Yue, Founder, Hysun Biomedical Inc, said: “With the launch of our maiden product, we look forward to make a significant contribution to the growing healthcare industry in India. We see huge market potential here, given the large number of diabetic and pre-diabetic people in the country.”
Meanwhile, Karan Kakkad, Director -Marketing, Phyto Biotech, said: “Suga Balanz, which was being manufactured only in US, will now be manufactured in India also. It will be made available in India and also exported to global markets.” He said that the lower manufacturing cost will make it more viable for some of the global price sensitive market.
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