Bangalore-based BioVitamins Ltd is investing Rs 6 crore for setting up a new unit at its existing facility in Bangalore. The new unit which will be the first own unit of the company and will be built according to WHO GMP standards. The company is also looking for tie-ups from foreign nutraceutical players for co-development and marketing.
The new unit will come up on a one lakh square feet of land. The details of commencement of construction are being worked out.
According to YN Kumara Swamy Raju, managing director, BioVitamins, the company has been, so far, manufacturing products at a leased facility in Bangalore on the Kanakapura Road. With the increasing sales, the company needed a dedicated facility of its own. Having own manufacturing facility will provide the company the flexibility in manufacture, increase the product variations and enhance its scope for growth.
The Rs 15 crore Bio Vitamins has a product mix of antibiotics, anti inflammatory drugs, anti ulcerants, anti cough preparations and nutraceuticals. Out of its total 21 products, 12 are pharmaceuticals and the remaining are nutraceuticals.
Some of the leading products are BioVit D for diabetics which is a dietary preparation that is low on saturated fats. BioVit for general health is a comprehensive nutritional supplement with soya protein. BioVit Junior for children is a complete nutrient for growth.
The company is now gearing up to launch a supplement for expecting mothers known as BioVit Mom which is which is soya based supplement fortified with gamma linolenic acid (GLA), a beneficial omega 6 and docosahexaenoic acid (DHA) to prevent malformation.
It will also introduce a supplement in capsule form, 'Mecomulty' for diabetic neuropathy, BioJoint for control of cartilage deterioration, carbonil iron suspension for anemic conditions and an analgesic.
All the products are prescription driven. The company is armed with a sales force constituting 120 personnel which is expected to become 300 by 2010. It has tapped the markets of south, east and west. Strategies are being worked out to enter northern markets. Going by the demand for its products and its performance so far, we are confident to become a Rs 60 crore company in the next three years, added the BioVitamins chief.
The Indian market for nutraceuticals is estimated to be Rs 400 crore with 15 per cent growth.