Parry Nutraceuticals, a division of EID Parry and part of the Murugappa Group, has received US Food and Drug Administration approval to cultivate and process organic micro-algae in its India facility.
In a communication to the Bombay Stock Exchange, Muthu Murugappan, Business Head, Parry Nutraceuticals, said the company is a preferred supplier of micro-algal health supplements for several leading nutraceutical brands in over 35 countries.
Parry Nutraceuticals is stepping up its new product development efforts to meet the increasing customer demand for value-added products based on microalgae.
These value-added products, which the company will launch in the the market over the next two years, include Organic Chlorella, Spirulina Granules, CO2 Extracted Lutein and Algal Beta Glucan.
“Other areas currently under development are vegan algal proteins, chlorophyll and algae (vegan) omega-3s,” Murugappan said in the communication.