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Sami Labs plans expansion in global market
By siliconindia staff writer
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Friday, 24 October 2003, 19:30 IST
BANGALORE: The Bangalore-based Sami Labs Ltd (SLL) has drawn up plans to expand its presence in the global market in the wake of the company winning three patents in the US.
The company's three new active ingredients, Tetra-hydro-curcuminoids (THC), Coleus oil and Zealutien, are set to add to new dimension in the dermatology, infective and geriatric ophthalmology markets, according to the company's Chairman and Managing Director, Dr Muhammed Majeed.
The three active ingredients, which are used in the nutraceutical and cosmeceutical formulations, have a combined estimated market size of Rs 20 crore, he told press persons on Tuesday.
In fact, the company has introduced many of its Indian herbal products in the US market - the company at present holds nine US patents, with 22 patents more pending.
Replying to a query, Dr Majeed said the company was exploring the possibility of raising money from the market through the `initial public offer' route to part finance its expansion programme. "We have already appointed a consultant, which is expected to submit its report within three months," he said.
Dr Majeed said the company was also actively exploring the possibilities of using natural waste products to bring out new ingredients for a variety of formulations. The company will be introducing in the market a new product, policosanol, made out of sugarcane wax that can be used for chlorestol reduction. Another ingredient, glucoseamine, made out of shrimp shells, to battle arthirities is also in the pipeline.
"Additionally, the company is driving biotech research in probiotics and is expected to roll out products by the end of 2004. The company is targeting a turnover of Rs 100 crore for its formulations business in India by the close of 2006," Dr. Majeed said.
Another thrust area of the company is the aromas and fragrances market in India, which is estimated to be of Rs 1,200 crore. The company is in the process of setting up a fully automated plant to cater to the market, with corporate majors such as Godrej, HLL, L'Oreal, Amway and Avon being the Indian customers.