RPG Life Sciences is all set to launch Vitamin B12 in the domestic market by the end of this month posing a direct competition to Wockhardt, the only supplier of this vitamin in the country. The company, which is manufacturing Vitamin B12 at its fermentation plant leased out from Hindustan Antibiotics in Pune, has been only into export market so far. According to RPG sources, since the domestic market is also growing, the company is trying to explore the same by increasing the production by almost double.
The domestic market for Vitamin B12 is considerably high as most of the vitamin preparations manufactured in the country has this product as one of the main ingredients. However, there are only two major manufacturers of Vitamin B12 in the country at present, who are predominantly export oriented. Hence the local companies are also importing this vitamin mainly from Europe.
Since Vitamin B12 is a high cost fermentation product with a low volume demand, not many companies in India attempted to enter this field. Wockhardt started production of Vitamin B12 when it acquired the fermentation plant at Aurnagabad five years ago. Since then the company is one of the major players in the international market and the only player in the domestic market.
Recently Wockhardt has made a strategic move by more than doubling its Vitamin B12 manufacturing capacity to make significant inroads into the global market. At present, with total production capacity of 3500 kg, Wockhardt ranks amongst the world's Top - 3 producers of this vitamin.
Whereas, RPG Life Sciences Limited, the pharma-company of RPG Group, begun manufacturing of Vitamins B1 and B12 in the plant leased out by Hindustan Antibiotics Limited (HAL) by January, 2001. The company, which agreed to lease three fermenters units in the streptomycin plant of HAL in 1999, however, did not start production in the plant immediately because of a range of hurdles and technical problems in getting the lease agreement cleared by the BIFR and other financial institutions and banks.
The usage of Vitamin B12, the world over, is quite consistent in the field of nutraceuticals. Currently priced at Rs 385 per gm in the Indian market and $6 per gm in the international market, Vitamin B12 is necessary for the formation of red blood cells, maintenance of a healthy nervous system, and helps growth and development in children. Moreover, Vitamin B12 helps in the synthesis of DNA - the genetic material in all cells. Deficiency can cause anaemia leading to symptoms such as excessive tiredness, breathlessness, listlessness, pallor, and poor resistance to infection. Moreover, its deficiency can lead to neuropathy, which involves the degeneration of nerve fibres as seen in diabetics.