Cadila Pharma forays into herbals

NEW DELHI, APRIL 14. The Rs. 550 crore Cadila Pharmaceuticals today announced its tie-up with Nature's Way Products Inc., an arm of Murdock Madaus Schwabe of the U.S., to introduce natural healthcare products in the country.

"We have entered into a joint venture agreement with Murdock Madaus Schwabe of the U.S. for a two-way manufacturing and distribution of herbal products," Mr. I. A. Modi, Chairman, Cadila Pharmaceutical, told newspersons.

Mr. Modi said the company had also entered into a marketing tie- up with the Murugappa group company - Parry's Nutraceuticals - to market its products in the South while Creepers Marrs would cater to the north.

The Ahmedabad-based company which has a U.S. Food and Drug Administration approved plant for manufacturing its herbal product line is targeting a sales turnover of over Rs. 50 crores from this range.

Cadila Pharma, which already has operations in 43 countries, has chalked out a major export plan to garner a major share of the $65 billion global generic herbal market.

- PTI

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Section  : Business
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