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Our Bureau

New Delhi , Jan. 7

PHARMACEUTICAL major Novartis is planning to increase its presence in India. It plans to enter into joint venture to manufacture and market speciality nutrition food products including food supplements.

The company plans to manufacture nutrition drinks Resource and Sandosource, oral nutrients — Oral Impact and Meritene, as well as Vivonex, which is a high nitrogen, low fat diet for total enteral nutrition.

The self-medicating products are Theraflu for cold and cough, Fenistil for wound healing, sore throat remedy Orofar, and gas-reliever Gas-X among others.

While the name of the Indian partner was not available, the foreign equity participation is 49 per cent. The company, in its Foreign Investment Promotion Board (FIPB) application, has sought approval for manufacture, marketing, distribution, export and sale of pharmaceutical products. It will also import and sell pharmaceutical products in India and export them too.

Currently, foreign direct investment up to 100 per cent is permitted under FIPB route for domestic trading activities. The Board has said that since the company's proposal relates to trading for which FIPB approval is required, it would be subject to standard trading conditions including no retail trading.

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