Mankind Pharma to invest Rs 150 crore in Paonta Sahib plant

Published On 2015-10-16 05:45 GMT   |   Update On 2021-08-10 10:38 GMT
Advertisement
MUMBAI: Mankind Pharma today said it has invested Rs 150 crore in its plant at Paonta Sahib and expects to roll out 35 products by the end of 2016.

"... we are concentrating on the production of nutraceuticals, food supplements and beverages. We have invested Rs 150 crore in our plant in Paonta Sahib and are expecting to launch 35 products by the end 2016," Mankind Pharma MD Sheetal Arora said in a statement.
Advertisement

With a strategic approach on formulations, the company has been focusing on the manufacturing of nutraceuticals with a growth rate of 35 per cent.

Currently, the company's 80 per cent of niche molecules have been concentrated in the production of nutraceuticals and it has recently introduced 24 products under the segment, as more people are becoming health conscious, Arora added.

The growth of nutraceuticals market in India accounts for around 1.5 per cent of the global market which is currently estimated at $4,182 billion.

The domestic nutraceuticals market is growing at a compounded annual growth rate (CAGR) of 17 per cent.

From current size of $2.8 billion, the industry is estimated to touch $6.1 billion by 2020, according to an Assocham report.

Mankind Pharma is also planning to push its products in tier II and III cities, the statement added.
Tags:    

Disclaimer: This website is primarily for healthcare professionals. The content here does not replace medical advice and should not be used as medical, diagnostic, endorsement, treatment, or prescription advice. Medical science evolves rapidly, and we strive to keep our information current. If you find any discrepancies, please contact us at corrections@medicaldialogues.in. Read our Correction Policy here. Nothing here should be used as a substitute for medical advice, diagnosis, or treatment. We do not endorse any healthcare advice that contradicts a physician's guidance. Use of this site is subject to our Terms of Use, Privacy Policy, and Advertisement Policy. For more details, read our Full Disclaimer here.

NOTE: Join us in combating medical misinformation. If you encounter a questionable health, medical, or medical education claim, email us at factcheck@medicaldialogues.in for evaluation.

Our comments section is governed by our Comments Policy . By posting comments at Medical Dialogues you automatically agree with our Comments Policy , Terms And Conditions and Privacy Policy .

Similar News