The Mumbai-based Mission Vivacare Ltd, a pharma company which has turned its focus to nutraceuticals market of late, has unveiled its future plans in entering the lucrative US market with a range of nutraceutical products and also to beef up its activities with an offer of stake sale to the public.

The company, which has set up a state-of-the-art facility in Indore, Madhya Pradesh, for manufacturing nutraceuticals, is finalising pacts with distributors to launch its first brand - named as Vivaprime – of holistic nutritional solutions in the New York, Florida, California, mid west and Texas regions in US.

The condition specific products are meant to supplement nutritional deficiencies that may cause illnesses like diabetes, cardiovascular diseases, psychiatry as well as overall wellness, said Akkshay Mehta, managing director, Mission Vivacare.

The facility at Indore has been accredited by international certification agency NSF International for US Good Manufacturing Practices compliance. Even as the worldwide market size of nutraceuticals is expected to be about US$ 200 billion, with 20 per cent growth per annum, the US market is currently at US$ 50 billion with an annual growth of eight to 10 per cent.

The product range would also be launched in India by October, 2010, said Mehta. The prices will be fixed at close to higher level of nutraceutical pricing range and the Vivaprime range would be sold in US at US$ 30 to 35 per pack even as in India it would be around Rs 899 to 999 for a pack lasting a month in consumption. The Indian market for dietary supplement is estimated at Rs 2,000 crore and is growing at around 20 per cent annually.

Apart from US and India, the company is keen to launch its nutraceutical products in other markets in Europe, South America and Asia. “We have already begun exports to markets like Canada, and Middle East and our products have already received registration in some key markets. By June 2010, Mission Vivacare will export its products to 20 countries worldwide,” Mehta revealed.

The company is also keen to tap the capital markets through an initial public offering (IPO) in 2011. The equity dilution will be at around 10 to 12 per cent and the capital would be used for forward and backward integration in nutraceuticals business. Mission Vivacare, a Rs 220-crore company is expecting to reach a turnover target of Rs 300 crore by June 2010, with the nutra products entering the market.