Indfrag Limited, the herbal extract major, is gearing up to commission its dedicated export oriented unit (EOU) at Hosur by early 2005.
The ultra modern plant coming up at an investment of Rs 10 crore is claimed to be an extracts-cum-finishing, GMP-compliant unit, adhering to US FDA directives for production of dietary supplements. The company is a leading exporter of herbal extracts to 22 countries and the new facility will allow it to expand its destinations.
The need for an exclusive facility was on the cards because the company has 75 per cent of its business targeting the international market as direct exports. Around 20 per cent of its business constitutes indirect exports and only a five per cent is for Indian customers. "We intend to boost our global sales and the new unit would provide the much-needed fillip," stated Philip Samuel, chairman & managing director, Indfrag.
The 15-year-old Indfrag already has six independent solvent extraction units located at Hosur and at its subsidiary plant at Attibelle in Karnataka.
Apart from manufacturing, the company is involved in research works, which includes scientific validation of herbal extracts to prove its efficacy and safety in drugs. An assessment of the botanical extracts is made on the healing properties and disease prevention, informed Samuel.
Among Indfrag's range of natural herbal extracts, Garcinia is a major focus because it has already developed a proprietary weight loss formulation with four ingredients. The product is awaiting US patent consent. The tabulation of clinical trials are going on with a contract research organisation (CRO) in the US where it would be manufactured and ready for the market in early 2005.
Last year, Indfrag made a foray into branded diabetic formulations with 'Pure Magic,' made up of Gymnema, single herb formulation and a proprietary extract. It is registered in India as a dietary supplement as OTC. The company went on a test market drive with launching 500 Pure Magic, manufactured under Prevention of Food Adulteration (PFA) license and introduced in select retail outlets in Bangalore in the pack of 120 capsules, priced at Rs 250, he stated.
In order to go aggressive with Pure Magic, the product is currently undergoing clinical trial at the MS Ramaiah Clinical Research Centre. The trial is a double blind placebo control cross over study involving 60 patients. Already 30 patients are undergoing the trials. The product would be ready for launch in mid 2005.
As a part of its future plans, Indfrag is working on for an anti-cold remedy. A leading herbal research institute (name withheld) in the country is identifying and screening the herbs. It is also keen to attract R&D centres to outsource certain services.
The company's herbs are sourced from India and other countries. It has taken on the onus to train local farmers on herb cultivation.
Indfrag has proved its herbal extract excellence by bagging the best vendor of the year award under the category of 'most resourceful' company from a US-based enterprise for the third consecutive year.