Bangalore-based Sami Labs has announced the launch of its operations in Sri Lanka. The company has tied up with Harcourts Ltd - a leading co-marketing and distribution company in Sri Lanka. Harcourts will market Sami's nutraceuticals portfolio. Sami Labs will provide marketing and technical support to Harcourts in this venture. Harcourts also works with companies like Sun Pharma, Emami, Caryson etc.
The nutraceutical market in Sri Lanka is currently in an evolutionary stage. Sami Labs has chalked out investment plans to develop the market. Sami Labs is hoping to generate sales worth US$ 250,000 within a year of its Sri Lankan foray.
According to Ms. Neeraja Shetty, CEO, Sami Formulations, "We will capitalise on our partner's marketing, sales and distribution strengths in quickly building up a critical mass of volume and value sales. Our partner Harcourts has been actively and aggressively distributing several pharmaceutical and cosmetic companies' products and holds long-standing experience and sound knowledge of the market. We will support Harcourts with marketing strategies, promotional activities and materials, training and technical support. The synergies in our partnership should definitely bring in the desired returns in a very short period."
The core strength of Sami Labs is research and development, with emphasis on new product development and market-oriented research. Sami, today, holds nine international patents for its innovations in the field of natural products.
After a decade of focusing on exports, Sami Labs has witnessed an unprecedented growth in the formulations market. Apart from nutraceuticals, the company has a sizeable presence in the field of standardized herbal extracts, fine chemicals, specialty chemicals, cosmeceuticals, phy-ton-utrients and probiotics, stated Ms.Shetty.
The company's contributions have been recognized through a series of government awards, including the DSIR National Award for In-house R&D for developing five new products and processes, National Award for Quality Products in 1994 from the Government of India and the State Export Award (Gold) from the Government of Karnataka in 2003.