The Ahmedabad-based FMCG major Nirma Limited is planning to make a foray into the healthcare business by entering into parenteral products segment. The company, which has decided to acquire the multi-product facility of the BIFR referred Core Healthcare at Sachana near Ahmedabad, would take up manufacturing of intravenous (IV) fluids and few other injectables at this facility soon.
Revealing the healthcare business plan, the company sources said "Nirma has been always a volume player and has proven capabilities to mange products having potential of mass consumption with wide and deep market reach. Since the Core's IV fluids facility is one of the largest in the world, the company wanted to explore the maximum potential of the same to provide a leadership position in the domestic market and also to tap the export potential."
Last week, Nirma had announced its decision to acquire the Core facility from the Assets Reconstruction Company (India) Limited (ARCIL), a joint initiative of few leading banking institutions in the country, which was registered under the Securitization Act.
The Core Healthcare property has been under ARCIL's possession for some time now after the company took over the same as in the process of debt recovery under the SARFESI Act 2002.
Confirming its proposed entry into parenteral drugs manufacturing and marketing, Nirma sources added that the market potential of IV fluids is tremendous as they are critical life saving pharmaceutical products. These products, which have therapeutic as well as nutritional values, it plays a vital role in day-to-day treatment of patients in critical conditions in hospitals and other healthcare institutions. Over the last several years this segment has received a considerable boost because of the increase in demand and availability of good healthcare facilities.