Parry Nutraceuticals enters over-the-counter segment

Parry Nutraceuticals is expanding its over-the-counter range of nutritional supplements as it targets the fast growing preventive healthcare market.

Parry Nutraceuticals, a division of E.I.D.-Parry (India) Ltd, plans to launch over a couple of dozen branded formulations over the next three years.

The company will build on its existing infrastructure, including marine algal culture capacity, knowledge and technology base, and the Parry brand to grow this segment, according to Mr Sajiv K. Menon, Business Head – Bio and Nutraceuticals, E.I.D. Parry.

Mr Menon who launched two Parry-branded protein supplements, Pro 9 and Pro 9D, on Monday said the division is a globally recognised exporter of marine alga-based ingredients for nutritional supplements. It is now moving up the value chain to add branded OTC products for the domestic markets.

Most of the division's business of about Rs 100 crore is from exports now. Over the next two years, along with exports the OTC products in the domestic market will help more than triple its turnover, he said. In line with the growth, the company is expanding its marine-algae culturing capacity in Tamil Nadu with new marine alga farm to be set up in Ramanathanpuram. It now has a unit in Pudukottai. It is also doubling the capacity of its lycopene extracting unit in Maharashtra to about 24 tonnes/year. Pro 9 is a whey-based protein concentrate with and casein and Pro 9D is a sugar-free drink with natural proteins. The range of OTCs from Parry will cover general health and wellness, focus on specific conditions such as diabetes, immunity building and liver care and the ‘cosmeceutical' segment.

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