Phytogen Pharma (India) Pvt. Ltd., the subsidiary of Phytotech Extracts is now exploring more marketing alliances in India and abroad for its range of plant-based formulations.
Although it has struck a couple of collaborative deals, the company now intends to expand its alliances to tap the nascent nutraceutical space which is brimming with lucrative opportunities.
Current Indian nutraceutical market is valued at Rs.3,000 crore, of which, only one per cent is addressed. So far no single player has been able to create a dent in the space. This is where aggressive consumer education needs to happen. “We are gearing up to be a forerunner in the space and are looking at marketing partners who would integrate consumer education in the sales strategy,” V Hariharan, director, Phytogen Pharma (India) told Pharmabiz.
A visible trend is the keen interest towards disease prevention and well being. Demand for anti oxidants and immune-stimulants for liver care and women’s health are gaining ground. “Taking a product to the target population and creating consumer confidence is the need of the hour. Though we have an international marketing partner, we need to scout for mid-level marketing companies for the domestic market which could create consumer awareness on the value and benefits of nutraceuticals, “he added.
The company’s antioxidant, phyto sterols (soft gel capsules for cholesterol control) and a protein drink ‘Ed Pro’ has received a positive response with these products in the European Union and Sri Lanka.
With several products under development, Phytogen seeks to expand its partnership deals. For Sri Lanka, it has teamed-up with an independent marketing company, Citrus Biosys India which are consultants for pharma and nutraceuticals in the island country.
For the EU, Phytogen is a contract manufacturer for concentrated spring waters infused with herbs, marketed under the brand name ‘ Happy Waters’. Its three varieties are ‘Reboost & Go’, ‘Peace & Smile’ and Clean-up & Detox which are bottled in the EU.
“Although the EU restricts the export of ayurveda ingredients, our product is approved only because of adherence to stringent regulatory standards. Now the EU company is keen to expand its portfolio and market”, he said.
Further Phytogen has also collaborated with a leading Korean company to manufacture Gaurva tea sold under the brand name ‘Down Choice.’ The company has now used the same ingredients to manufacture tablets. The product has a IAAFF( Individual Approved Functional Foods) certification from the Korea Food Drug Agency (KFDA) vetting the claim for blood sugar control. Another product technology pact with Phytogen is for the manufacture of an anti allergy atopic derma product, ‘ Bendu 381’.
Phytogen’s production plant at Singasandra in Bangalore, manufacturers tablets, capsules and liquids and its 10 year-old parent company Phytotech produces botanical standardized extracts.