The Pharmaceutical Corporation (I.M) Kerala Ltd, popularly known as Oushadhi, is in the process of expanding its research and development wing with financial assistance from the Department of AYUSH. Further, the company will soon launch four new products, including an herbal ointment for psoriasis.
Mathew Stephen, chairman of Oushadhi, told Pharmabiz that the Department of AYUSH under the union ministry of health & family welfare has sanctioned rupees one crore for modernising the laboratory and R&D facilities. A first instalment of rupees 35 lakh has been received and Oushadhi is now constructing a new building to house the R&D wing. The new R&D facility will accommodate sophisticated laboratory equipments for quality control, besides installing prototype machines for tableting, capsule filling and ointment filling facilities. Trial machines for material testing from other companies will also include in the new machinery.
He said Oushadhi would soon launch four new products, Vigor 12, an herbal substitute for Viagra, a herbal ointment for Psoriasis and a herbal face pack and a shampoo powder. Now the R&D wing is validating the products for market launch.
Mathew Stephen said Oushadhi, a Government of Kerala enterprise into manufacturing of Ayurvedic medicines, hopes to achieve about 30 per cent increase in profits and production after the planned expansion programme. Oushadhi recorded net profits to the tune of one and half crore rupees, during the last financial year.