With the aim to capture a sizeable share in the growing domestic nutraceutical market, Chennai based Seaglad Pharmaceuticals Pvt Ltd has introduced two first-of-its kind nutraceutical products, Freejoint and Lactoup. Freejoint is for the treatment of osteoarthritis and Lactoup is for the lactating mothers. These products are currently manufactured by the company at its facility in Porur near Chennai and will be marketed by Nutriglad, the nutraceutical marketing division of Seaglad Pharmaceuticals.
"There are equivalent products in the market but they do not act the same way as these two product do. We have introduced these products with the aim of capturing a sizeable share of the nutraceutical market which is growing at an enormous rate within the country," said S. Suresh Kumar, director - marketing and sales, Seaglad Pharmaceuticals.
Freejoint consists of glucosamine sulphate and methyl sulphonyl methane as ingredients and helps in regeneration of the cartilage. "The two ingredients are essential component for treating osteoarthritis, treatment of which is a long overdrawn course. This product helps in regeneration of the cartilage which is its USP," said Suresh Kumar. Apart from the two above-mentioned ingredients, the product has tricalcium phosphate along with proteins, carbohydrates, folic acid and vitamin A, D3, C and E. The formulation has all the necessary mix for osteoarthritis patients, he added.
Lactoup comprises of 10 Ayurvedic herbs combination of which are christened 'Galactogogues'. "There exist no such product in the domestic market comprising Galactogogues as ingredients," adds Suresh Kumar. The product further has iron poly maltose complex thus doing away with lactating mothers to have iron supplements.
The company is targeting the two products in the urban market, according to Suresh Kumar. The two products would be supplemented with another product, Seaprot DM, which has chromium picolinate of 500 mcg per serving and sodium selenite 50 mg. He said that no equivalent product has chromium picolinate of 500 mcg per serving strength.
The company expects to add two more products, in the nutraceutical segment, for the liver and kidney segment by April-May this year.
The Nutriglad division of the company is to expand its operations to cover Ahmedabad, Calcutta, Bangalore and Hyderabad by April next. Currently it has operations in Tamil Nadu, Orissa and Pondicherry. The Nutriglad division has been in operation for the last four months.
The company, in the meanwhile, has acquired land to set up its state-of-the-art, WHO CGMP facility. The facility is to commence operations in 2003-04. Manufacturing process from the current facility would be shifted to the new facility once commissioned.
The company is expected to expand its operations to cover the entire south by April this year and then later spread out its operations nationwide. It has set a target of Rs. 3 crore for the fiscal year 2003-03. It has currently recorded Rs.1 crore turnover for the current fiscal. The Nutriglad division has contributed 25 per cent to the turnover.