Plethico Pharma eyes US market
Mumbai based Plethico Pharmaceuticals will use US-based Natrol’s distribution network to launch its domestic brands in US. The nutritional products maker, with a market capitalisation of around Rs 1,200 crore, is planning to launch domestic brands like Actifresh, Travisil, Coach’s formula, Mountain Herbz in 2010.
Plethico acquired Natrolnutraceutical (a term used for nutrition providing products) company, in 2007.
“We will leverage Natrol’s distribution network to penetrate in US nutraceutical market,” said Sanjay Pai, CFO, Plethico.
Of the total 60,000 mass-market retail and heath food stores in the US, Natrol’s products are sold in 55,000 such retail stores. The US nutraceutical market is currently pegged at $80 billion (around Rs 3,75,000 crore).
The company expects markets like the US and the Commonwealth of Independent States (CIS) region major driver of growth. The US generates more than 45 per cent business for the company. “We also want to expand geography for Natrol and plan to take natrol products to new territories like countries in CIS, South East Asia and gulf region,” added Pai.
The company expects the CIS market to generate 10-12 per cent of its overall business in 2010, as against nine per cent last year.