Ranbaxy ventures into herbal medicines
Wednesday, 21 January 2004, 20:30 IST
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NEW DELHI: India's pharma major Ranbaxy Laboratories Ltd Wednesday announced its foray into herbal medicines with four over-the-counter products. The launch, through the Ranbaxy Global Consumer Healthcare (RGCH) division set up in September 2002, is expected to enhance the range and reach of the company into herbal medicines market that is estimated to be worth $20 billion globally with 12-15 percent annual growth, Atul Malhotra, head of RGCH said. "In India, the herbal opportunity is an estimated $1 billion and growing at 12 percent annually," said Malhotra, who is also regional director for Asia Pacific and the Middle East. "The entry into the herbal arena for RGCH was identified as the new initiative to support our vision from being well to well-being by addressing the needs of people to keep good health," said Brian Tempest, joint managing director and CEO designate of Ranbaxy. In the first phase, Ranbaxy has launched cold, cough and appetite stimulant products for children and adults. "We are using only plant-based material for our products. Thus the herbal tag to differentiate it from established competition. We will be offering both allopathic and herbal options for the consumers," said Malhotra. For a greater market share and global acceptance, Ranbaxy has "leveraged science for herbal products through standardisation", he added. Not more than three herbs have been used in each of the products - Olesan Oil for cold, Olesan cough syrup for children and adults and Eat Ease appetite enhancer for children - for optimum therapeutic dose, the official added. Justifying the added focus on the well-being of consumers through over the counter products, Malhotra said the RGCH division had registered 30 percent growth in one year, well over the single digit growth being witnessed by this market segment in the country.
Source: IANS