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September, 2006 Pragati Maidan, New Delhi, India |
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Mayar eyes tie-ups in herbal healthcare.
“Mayar India Group is now eyeing tie-ups in biotech and health care sector,” says Abhit Sud, MD (biotech division), Mayar India. He was also quoted telling a leading newspaper that the company is in the process of striking a deal with few pharma majors for technical market alliances. The company is talking to five companies in the allopathic and herbal arena, for a technical, co- branding or marketing tie- up.
According to Sud the company is doing extensive research and development on generic healthcare and biotech products. “Our aim is to work out purely efficacious products,” added Sud.
The company last week decided to invest Rs1500 million in its manufacturing facility in Baddhi in Himachal Pradesh. This investment is a part of a strategy to increase output of the company’s Shivanda brand of herbal products. The strategic investment will be followed by the Baddi facility to be used to manufacture herbal medicines, food supplements and cosmetics. “The facility may also be used to manufacture allopathic products. We are not discarding that possibility.” Said Sud.
The company plans to increase the turn over of the company by Rs500 million, on the down side.
Date: 28-Dec-2004
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