Charak Healthcare, the Mumbai-based herbal major, having its presence in various countries, is all set to target the Russian market in a big way. As part of this strategy, the company has made tie-up with a leading Russian company to market some of its fast moving products in that market.
At the initial stage, Charak has given the marketing rights of Kofol cough syrup, Hyponidd-the anti-diabetic tablets which reactivates pancreatic beta cells and help to deal with type 2 diabetes and Livomin tablets for Liver disorders to the Russian company.
"We are targeting a business of Rs 50 lakhs in Russia annually through this marketing arrangement. We have signed the deal for one year and if it works well, we would expand the business further," says Pullin shroff, managing director, Charak Healthcare.
"The marketing of Lyvomin and Kofol has already started in the Russian market and the other products are under registration," he added. He refused to name the Russian company as the registration process is on.
Meanwhile, Charak is expanding its Ayurveda clinics business in the country. Currently, out of its four Ayurveda clinics in India two are in Mumbai and one each in Rajasthan and Karnataka.
"We are looking the northern states, especially Delhi to establish our next clinic and if it does well, we would set up more clinics in north," Pullin Shroff told Pharmabiz.
"These clinics are mainly aimed at the patients with chronic diseases like asthma, arthritis, paralysis, depression etc. We will not stop the allopathic treatments, which the patients have been continuing for a long term, but we will try to reduce the allopathic drugs slowly and shift to Ayurvedic drugs totally during the treatment period," Shroff said.
With an eye on the regulated markets, Charak has launched various products including herbal cosmetics, herbal shampoo, soap etc. "We are keenly looking for a partner to market the products in the regulated markets especially US and UK," he added.