Buoyed by a post-covid preference for nutrition and holistic health, the Ahmedabad-based nutraceuticals maker Sankalp Life Care has roped in Mumbai-headquartered Vaishali Pharma to market and export its range of nutraceutical products.
The NSE-listed Vaishali Pharma will take over the entire domestic and international marketing of Sankalp Life Care’s portfolio of nutraceutical products under the pact.
Sankalp Life has invested ₹22 crore in building a greenfield manufacturing facility in Ahmedabad. It has developed a portfolio of nutraceutical products with special focus on gummies, effervescent tablets and capsules.
Robin Goenka, Managing Director, Sankalp Life informed, "Sankalp Life Care’s core strength is in manufacturing the quality nutraceutical products, and Vaishali Pharma has a wide global presence in the Indian and multiple markets. The partnership will allow us to leverage Vaishali Pharma’s marketing reach and focus on our expertise. It is a win-win for both companies and we look forward to growing together."
Vaishali Pharma’s core strength is in export and domestic marketing of pharma products. The company’s Managing Director, Atul Vasani informed that the agreement with Sankalp Life Care is first-of-its-kind in this space, where Vaishali Pharma will handle the complete domestic and international marketing of Sankalp Life Care by making over 100 products available in over 40 countries. The products will be sold under Sankalp Life’s banner.
Bhavesh Upadhyay, Director, Sankalp Life Care informed that the company has already obtained Halal and Current Good Manufacturing Practices (CGMP) certifications for manufacturing, while it will soon obtain the USFDA's certification for greater access to the international market. "For access to regulated markets with the nutraceutical products, we need USFDA certification, which we will obtain soon. Looking at the overall market potential and our capabilities, we expect to touch the turnover of ₹25 crore in the first year of our operations, with a target to reach ₹100 crore in the next three years," Upadhyay said.
The company has installed capacities of six tonnes per month per shift of capacity for granulation, 12 million tablet per month per shift, seven million capsules per month per shift and one million bottle for liquid products per month per shift. We have the room to expand our capacities by increasing the shifts, Upadhyay said.
Vaishali Pharma shares have rallied since the announcement of the tie up for nutraceuticals segment. On NSE, the shares hit upper circuit on Tuesday after the announcement gaining nearly 20 per cent from the previous close. The stocks ended on Thursday at ₹104.50, up 1.5 per cent from the previous close.